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FX.co ★ NZD/USD update for August 10, 2022 - Breakout of the trendline in the background

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Forex Analysis:::2022-08-10T10:59:58

NZD/USD update for August 10, 2022 - Breakout of the trendline in the background

Technical analysis:

NZD/USD update for August 10, 2022 - Breakout of the trendline in the background

NZD/USD has been trading upside in the background and there is the breakout of the supply trend-line and symmetrical triangle in the background.

Trading recommendation:

Due to the breakout of the both symmetrical triangle and supply trend-line, I see potential for fruther rally.

Watch for potential buying opportunities on the intraday dips with the upside objective at 0.6340.

MACD oscillator is showing fresh new upside momentum, which is good sign for further rally.

Key support is set at the price of 0.6266

Analyst InstaForex
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