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NZD/USD Price Analysis: Could break into the symmetrical triangle, rises to near 0.5950

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NZDUSD News

Technical Analysis,Majors,Newzealand

NZD/USD advances for the third consecutive session on Wednesday, trading around 0.5940 during the European session.

NZD/USD extends gains despite the prevailing bearish sentiment for the pair. A break below 0.5900 could lead the pair to test the rebound support level of 0.5863. A break into the triangle around the level of 0.5963 has the potential to weaken the bearish sentiment. The pair is testing the lower boundary of the daily symmetrical triangle around the level of 0.5963. A breach into the triangle could potentially weaken the bearish sentiment.

A break below this level may lead the pair to test the rebound support region around the levels of 0.5863 and 0.5850. Alternatively, If the NZD/USD pair breaks into the symmetrical triangle, it might target the psychological barrier of 0.6000. A breakthrough above this level could support the pair's momentum to test the 50-day Exponential Moving Average at 0.6023, which aligns with the upper boundary of the triangle around 0.6030. NZD/USD: Daily Chart NZD/USD Overview Today last price 0.

 

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