• NZD/USD bulls taking back control and a break of 4-hour resistance. 
  • Bulls seeking a fresh daily impulse and weekly high. 

NZD/USD is in a bullish environment according to the following top-down analysis and harmony throughout the various time frames.

The bird is on the verge of a breakout of 4-hour resistance which is the foundations of a daily bullish impulse and fresh weekly highs.

Monthly chart

The bulls are above prior resistance that would be expected to act as new support in what is the current makings of a fresh monthly bullish impulse. 

Weekly chart

The price is trapped between support and resistance at this juncture but the bias is bullish considering the higher lows and prospects of a break of resistance. 

Daily chart

There is a bullish bias aligning with both the monthly and weekly time frames. 

The price is holding as the prior resistance and is firmly above the dynamic supporting trendline.  

traders will be looking for bullish conditions on the lower time frames for an optical entry to target a test of the daily resistance seeking to get into a breakeven position on the way there.

4-hour chart

Progress, breaking through the 21-EMA

As illustrated, the price action is going according to the forecast, so far, so good. 

That being said, the big test will be the current resistance. 

A break of which will be highly bullish for the pair from which traders will start to roll up their sleeves. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content


Recommended content

Editors’ Picks

EUR/USD renews 22-year low as yields propel DXY, focus on ECB vs. Fed drama, energy crisis

EUR/USD renews 22-year low as yields propel DXY, focus on ECB vs. Fed drama, energy crisis

EUR/USD takes offers to refresh multi-year low during seven-day downtrend. US Treasury yields rally to fresh cycle highs amid fears of economic slowdown, hawkish central banks. Energy crisis in Eurozone joins fears of more drama on the Russia-Ukraine issue to keep bears hopeful.

EUR/USD News

GBP/USD bears approach 1.0600 in search of fresh record low, UK’s fiscal plans, Fed’s Powell eyed

GBP/USD bears approach 1.0600 in search of fresh record low, UK’s fiscal plans, Fed’s Powell eyed

GBP/USD remains on the back foot while reversing the previous day’s corrective bounce, taking offers near 1.0630 during early Wednesday morning in Europe. The Cable pair respects the US dollar’s latest run-up amid the rush for risk safety, as well as downbeat economic prospects for the UK.

GBP/USD News

Gold remains vulnerable amid surging bond yields, USD Premium

Gold remains vulnerable amid surging bond yields, USD

Gold staged a modest recovery from its lowest level since April 2020 touched on Tuesday, though lacked any follow-through buying. An intraday US dollar downtick was seen as a key factor that offered some support to the dollar-denominated commodity. 

Gold News

Dogecoin price provides sidelined buyers another opportunity before a 50% rally

Dogecoin price provides sidelined buyers another opportunity before a 50% rally

Dogecoin price undid its gains seen between September 21 and 24 as it came tumbling down, following the footsteps of Bitcoin price. 

Read more

Fed may be making a second big mistake, as geopolitical tensions with Russia escalate

Fed may be making a second big mistake, as geopolitical tensions with Russia escalate

The Russian natural gas is now bubbling somewhere in the Baltic Sea, being wasted in front of the horrified eyes of hundreds of millions of Europeans suffering from a historical energy crisis.  

Read more

Forex MAJORS

Cryptocurrencies

Signatures