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Message: [QUOTE="Resolve, post: 236884, member: 29339"] [B][SIZE=5]NZDUSD Technical Analysis – 24th SEP, 2024 NZDUSD – Resistance of Channel is Broken[/SIZE][/B] [img]https://i.imgur.com/HcH3sY1.png[/img] NZDUSD was unable to continue its bearish momentum and after touching a low of 0.6258 the prices started to rise upwards against the United States Dollar today in the European Trading session. The Resistance of channel is broken in the 1-hourly timeframe. The CCI indicator is overbought: over 100 indicating a Neutral market. The Resistance of channel is broken in the daily timeframe. We have also seen the SuperTrend indicator bullish reversal in the weekly timeframe. We can see that the prices of NZDUSD are reaching a saturation level near to the 0.6330 levels which also indicates a possible shift towards the consolidation phase in the markets. We can see that the NZDUSD is hovering Near a new HIGH record (1 year) in the weekly timeframe. NZDUSD is now trading above its 100-hour SMA and its 200-hour SMA simple moving averages. • Kiwi Bullish reversal seen above the 0.6258 mark. • Short-term range appears to be Strong Bullish. • NZDUSD continues to remain above the 0.6320 levels. • Average true range ATR is indicating High market volatility. The next resistance is located at 0.6326 which is a 1-Month High. NZDUSD is now trading near to its Pivot levels of 0.6321 and is moving into a Strong Bullish channel. The price of NZDUSD remains above its Classic support levels of 0.6314 and is now moving towards its next target of 0.6338 which is a Price 3 Standard Deviations Resistance. [I][B]Disclaimer:[/B] This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.[/I] [B][URL="https://fxopen.com/blog/en/?utm_source=earnforexforum&utm_medium=ownanalysis&utm_campaign=resolve"]For in-depth analysis, please check FXOpen Blog[/URL][/B] [/QUOTE]

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