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Technical Analysis of Intraday Price Movement of NZD/USD Commodity Currency Pairs, Thursday November 21, 2024.
Technical Analysis of Intraday Price Movement of NZD/USD Commodity Currency Pairs, Thursday November 21, 2024.
Technical analysis
2024-11-21 06:13:53
On the 4-hour chart, Kiwi appears to have a deviation between the price movement of the NZD/USD commodity currency pair and the Awesome Oscillator indicator, especially with the formation of a Bullish channel and coincidentally the price movement of NZD/USD intersects with the Bullish Fair Value Gap area level, so as long as there is no significant weakening correction, especially if it breaks down and closes below the 0.5843 level, then Kiwi has the potential to strengthen up to the 0.5917 level. If this level is successfully broken and closes above it, NZD/USD will continue to strengthen to the 0.5950 level as its main target and if momentum and volatility support it, 0.6003 will be the next target.
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