NZDUSD → A retest of resistance may end in a false breakout.

NZDUSD bounces off the upward support line and forms a distribution towards the liquidity zone located above 0.597...



Strong resistance lies ahead at 0.5969 - 0.5975 (liquidity pool). If the current movement continues (distribution), the market will exhaust all its potential and the situation may end in a false breakout. There is no trend as such in the market, the price is inside the flat, and thus bearish pressure may resist the upward price movement.

Resistance levels: 0.5969, 0.5974
Support levels: 0.5932, 0.5917

Against the backdrop of a falling dollar, the currency pair is likely to continue its growth and may test 0.5969 in the short term, but based on the nature of the movement, we can assume that a downward correction will follow.

Best regards, R. Linda!