NZDUSD At the fork - breakout or pullback?

NZD Daily

The asset shows growth, updating local lows and highs, which indicates the buyer's strength. The price tested an important resistance level at 0.5833.

If the price manages to overcome the resistance level, the growth will continue to 0.5913, with the target of the EMA-200 test;
However, if the price fails to break the resistance level, a decline to 0.5764 will likely follow.

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: FBS Analyst Team

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