NZDUSD – Breakout Pullback Setup, ST Bullish | Mar 23

Brand New: Our Advanced Traders Mindset Course is out and has filled 300+ seats. Learn to re-wire your brain for successful trading. Click here to learn more.

NZDUSD – Greater Strength vs. USD, ST Bullish (4hr chart)
Showing greater strength vs. the USD post FOMC spike, the Kiwi has been making consistently higher highs since and took out a major resistance level today which was the double top Feb highs at 7600.

After initially busting through and then doing a false breakout, the pair re-emerged back above showing strength. Notice the breakout pullback setup on the 2nd push above, confirming 7600 is now support.

Any weak pullbacks here are short term opportunities for bulls to get long. For now, I’m anticipating a return back towards 7800 and potentially 7850 before offers re-enter the market. Only a daily close below 7500 negates the bullish momentum ST.


Read my latest article Discipline = Freedom + Success in Trading

Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.

Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

Related Article