- The NZD/USD has created a basing pattern along the 100-hour moving average (MA) in the last 20 hours and could pop out of the falling wedge pattern soon.
- A bullish falling wedge breakout would signal a resumption of the rally from the recent low of 0.6826 and will likely yield a convincing break above resistance at 0.6921 (hourly 200-MA).
Hourly chart
Spot Rate: 0.6894
Daily High: 0.6902
Daily Low: 0.6883
Trend: Bullish
0.69 (50-hour MA)
0.6921 (100-hour MA + 10-day MA)
0.6991 (50-day MA)
Support
0.6884 (5-day MA)
0.6851 (May 16 low)
0.6826 (June 21 low)
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