empty
 
 
20.03.2023 05:56 PM
NZDUSD rejection at neckline resistance

This image is no longer relevant

Yellow line -neckline resistance

In a previous analysis we noted the inverted head and shoulders pattern in NZDUSD. Price tried to break above the neckline resistance and activate the inverted head and shoulders pattern. Price got rejected. Price remains below the resistance neckline. There is no bullish signal yet. Resistance at 0.6265 remains key. Price formed a higher low at 0.6223. A break below this level will bring more selling pressures and price could decline towards 0.6150. Bulls need to see price break above the neckline in order to get the bullish signal.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback