From TradingView · · 40s
NZDUSD Breakout Analysis
NZDUSD breaks ascending channel with potential pullback.
In brief
NZDUSD breaks ascending channel with potential pullback. NZDUSD price broke ascending channel support at 0.56717, showing rejection wick near 0.5710. Originally reported by TradingView.
Market Structure
Price consolidated between 0.5588 and 0.5630 from Oct 2 to Oct 14.
Current Trend
Price moved inside ascending channel since Oct 15 with strong bullish impulse from 0.5580 to 0.5710.
Current Situation
Price reached key supply zone near 0.5710 with rejection wick and support at 0.56717.
Educational Scenario
Break below 0.56717 support could trigger pullback to 0.5630 and 0.5590 levels.
Here's the gist
NZDUSD price broke ascending channel support at 0.56717, showing rejection wick near 0.5710.
