NZDUSD: Very Intriguing Situation

٢٩ أكتوبر ٢٠٢٢

Hey traders,

Take a look what I spotted on NZDUSD pair:
the market is stuck between a recently broken major falling trend line
and a horizontal zone of demand.

I believe that the future direction of the market will be determined by a breakout of one of these structures.
Bullish breakout of a trend line will trigger a strong bullish move,
while a bearish violation of the underlined yellow zone will push the market lower.

Let's patiently wait.

What do you expect?

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