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27.12.2023 06:13 AM
NZD/USD H4 | Rising into resistance
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The NZD/USD chart is currently indicating potential signs of a bullish momentum, as it approaches a key resistance level.

Resistance Levels:

The 1st resistance at 0.6341 is categorized as a "Pullback Resistance" indicating its potential to hinder upward price movements. Beyond this, the 2nd resistance at 0.6398 is also identified as "Swing-high Resistance" emphasizing its role as a substantial barrier to further advances.

Support Levels:

On the support side, the 1st support at 0.6305 is recognized as an "Overlap Support". This level suggests a zone where buying interest may emerge, potentially providing some support to the price. Additionally, the 2nd support at 0.6242 is characterized by an "Overlap Support", reinforcing its significance as a substantial support zone.

Dean Leo,
Analytical expert of InstaTrade
© 2007-2025

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