The NZDUSD has experienced a bullish breakout through resistance in a rising wedge pattern. The target is set at 0.6159.

The trade configuration was spotted on NZDUSD. On 19th Feb 2024 at 06AM, the NZDUSD price breached the resistance line of a Rising Wedge pattern. This suggests a potential upward price movement in the next 4 hours towards 0.6159.

The overall visual quality of this pattern is moderate. The uniformity rating is high, indicating that the price changes are fairly consistent throughout the pattern’s formation. The trade configuration is evident, with minimal noise during the price oscillations between support and resistance. The breach through resistance was rather feeble. It would be advisable to await further confirmation of this breakout before initiating a position.