NZDUSD: Critical Level

NZDUSD, H4

On the H4, NZDUSD has formed an expanding wedge pattern. The price fell to the lower trend line, testing the critical resistance area. At the same time, MACD shows the possibility of short-term growth.

• If the price breaks the trend line below the support at 0.6140 below the nearest fractal, the drop will be to 0.6080;

• A rebound from the trend line will bring NZDUSD back to 0.6230 resistance;