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SYby u/suzuki_yan·3dAnalysis

$NZDUSD eyeing a retest of 0.5720 resistance

Watching $NZDUSD bounce off the 0.5670 area today, which has provided some decent support recently. It looks like we're heading back towards that 0.5720 level that has capped upside on a few occasions over the past week. If we can get a clean break and hold above there, it might open up a move to the 0.5750s, but a rejection there again would suggest further consolidation or a dip back towards the range low. Of course, a decisive break below 0.5670 would invalidate this short-term bullish outlook for me.

2 comments · 1 points

2 Comments

TAu/takin2539·3d

I'm seeing that too. The 0.5720 level has been pretty sticky. What are your thoughts on how global risk sentiment might impact a potential breakout or rejection there?

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NIu/nikhilpillai·3d

That 0.5720 level seems to be a sticky point. Are you seeing enough volume on these bounces to suggest a sustained move, or is it more short-covering pushing it up?

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