NZD/USD Technical Analysis: Flirting with double bottom bullish breakout

The 15-minute chart shows the pair has charted a double bottom pattern and a break above 0.6717 (neckline) would open doors to 0.6744.
The chart also shows a bullish price-RSI divergence.

Omkar Godbole FXStreet Contributor

15-min chart

Spot Rate: 0.6715

Daily High: 0.6718

Daily Low: 0.6688

Trend: Bullish above 0.6717

Resistance

R1: 0.6717 (double bottom neckline)

R2: 0.6747 (50-hour moving average)

R3: 0.6768 (100-hour moving average)

Support

S1: 0.67 (psychological support)

S2: 0.6688 (session low)

S3: 0.6675 (May 2016 low)

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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