NZDUSD: Trend Line Test

NZDUSD, Daily

On the H4, NZDUSD has formed a descending channel pattern. The price has reached the upper trend line and is testing the critical resistance. The price has crossed the AMA, and momentum has also crossed 100.0.

• If the bulls push the price above the trendline and 0.5995, the upside will be 0.6050;

• A rebound from the trendline will drop NZDUSD to 0.5935;