Tuesday, September 10, 2024
With the appearance of the Descending Broadening Wedge pattern coupled with the appearance of deviations between the Kiwi price movement and the RSI indicator (5), it is confirmed that in the near future NZD/USD has the potential to strengthen where the Kiwi will try to test the level of 0.6249 and if this level is successfully broken, the level of 0.6293 will be the next target to be aimed at, but if on its way to the levels mentioned, this commodity currency pair suddenly corrects again and weakens down to below the level of 0.6025, then the strengthening scenario that has been described previously will be invalid and automatically canceled itself.
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