NZD/USD Broke Above the Triangle & Ichimoku

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NZD/USD Broke Above the Triangle & Ichimoku

9:00 pm (EST) Update

NZD/USD 4 Hour: Testing the pivot level at 0.76

Suggested positioning: No positions

Technical reasons why: The pair broke above the Ichimoku cloud and a triangle chart pattern and currently testing the turning point of 0.76. A confirmation of a break above this level could indicate further upside towards 0.7680 and beyond

Alternative Scenario: Below 0.75 look for further downside towards key support levels at 0.74 and 0.73

Where I’m setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.74 0.76 0.768
0.73 0.75 0.783