NZDUSD Still bullish testing the 1D MA200.

Dec 23, 2022

The NZDUSD pair has been on a tremendous rise since the October 13 Low. That was a Lower Lows on the long-term Bearish Megaphone pattern that goes back to the October 21 2021 High.

At the moment, the price hit (and so far holding) the 1D MA200 (orange trend-line) that hasn't been a Support since April and the last Lower High of the Megaphone. The 1D RSI has pulled-back to neutral levels but this is exactly what took place on March 14, when the price held the 1D MA50 (blue trend-line) as Support and rebounded to price the last High on the red Zone.

Technically, as long as the 1D MA50 is holding, we expect a High around 0.6600. A break below the 1D MA500 is bearish towards the 0.5600 - 0.55165 Support Zone.



-------------------------------------------------------------------------------

** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. **

-------------------------------------------------------------------------------

You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁

-------------------------------------------------------------------------------

💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇