About two weeks ago NZDUSD triggered a buy signal. Our technical analysis suggested that the price would have a small correction after it broke the long-term downtrend line shown on the graph below in black. After the correction, we expected the price to continue increasing.
Our predictions turned out to be right. After experiencing a slight pull-back, the price started to make gains. A few days after that, there was another correction, but the price continued to rise and make new higher highs. A significant milestone was reached when the price broke a horizontal resistance shown on the graph with an orange line at 0.685. Currently, this level is tested as a new support. We maintain our bullish outlook on the price and expect more growth to occur in the nearest future.