NZD/USD has broken through the resistance line of a Inverse Head and Shoulders technical chart pattern. Because we have seen it retrace from this position in the past, one should wait for confirmation of the breakout before trading. It has touched this line twice in the last 21 days and suggests a target line to be around 0.6371 within the next 3 days.
Did you know that our social media feeds are updated only 3x per day, and don’t look at short term movements?
If you open a live account with a broker that support Autochartist, you’ll get:Analysis as low as 15 minute data intervals Short term forecasts Risk and volatility information