NZDUSD - Inverse H&S in play
The 4-hr chart of NZDUSD looks very bullish after this morning. The neckline of an inverse Head & Shoulders was broken, without much resistance, and the pair is continuing its climb higher. Main resistance now is the trendline coming in around .83, and support should be seen at the broken neckline at .8260. The measured move of this setup is up near .8435, although there should be strong resistance coming into play once price nears .84.
It's likely that the .83 level will cap price today as the trading week winds down, but this pair should be a top priority at the beginning of next week.
It's likely that the .83 level will cap price today as the trading week winds down, but this pair should be a top priority at the beginning of next week.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.