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Weekly and daily charts stars aligned – Crypto News
- NZD/USD bulls are looking for a break to the upside to test trendline liquidity.
- All eyes are on the RBA meeting as per market correlations.
NZD/USD has been held below a key trendline resistance for a couple of years but it could be on the verge of a breakout to the upside. However, the kiwi the bird is being dominated by global moves until something notable happens in the region. All eyes are on the 4th July Reserve Bank of Australia decision until then.
NZD/USD weekly and daily charts
Meanwhile, as per the technical analysis, the bulls are seeking a ride-up from daily trendline support as per the M-formation. A break of the 0.6250s and top of the right-hand shoulder opens the risk of a significant move higher in line with the weekly chart’s bullish bias. The market is based on the 50% mean reversion of the weekly charts’ bullish impulse.
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