NZDUSD has been rallying ever since it broke out of the multiyear wedge pattern in July of 2020; I discussed that bullish breakout extensively at the time stating.
Today I want to discuss a continuation pattern on the daily time frame which suggests that the bull is far from over. A look into the past shows that this pair moved 518 pips after it broke out of its four-month range consolidation back in August of 2020 just after it confirmed the wedge break out.
- Read: WhatsApp panics as it loses millions of users over terms update
- Visit Investogist’s homepage for more articles
This is the first consolidation after that of august and it is continuation signal if buyers are able to close the day above 0.7211 resistance that will likely send it towards 0.75230 followed by 0.80526.
