SOLIDECN
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NZDUSD technical analysis
H4
On the four-hour chart of the asset, at the level of 0.6107, there is a formation of a Hammer candlestick pattern, which signals a possible change in the trend to an upward one, as well as a "bullish" Engulfing pattern at the level of 0.6174, which means a reversal of quotes at the bottom. In the current situation, the priority scenario is an increase from the level of 0.6246 to the zone of 0.6559−0.6869. An alternative scenario is possible if the buyers fail to hold the key support level of 0.6107, then the price may drop even lower to the range of 0.5929–0.5755.
![nzdusd-1.png](/proxy.php?image=https%3A%2F%2Fi.ibb.co%2F3NRT1pz%2Fnzdusd-1.png&hash=4851f3e31d37cf29906fde73d9fa783b)
D1
On the daily chart, a Falling Wedge price pattern is observed, and at the moment, an upward exit from the "bearish" trend channel is being implemented. A positive signal for the asset is the appearance of a Hammer reversal pattern at the support level of 0.6107, which can act as a catalyst for the uptrend from the level of 0.6246 up to the level of 0.6869. If the price consolidates below the level of 0.6107, the trading instrument may show a decrease to the zone of 0.5929−0.5755.
![nzdusd-2.png](/proxy.php?image=https%3A%2F%2Fi.ibb.co%2FSy3QyHK%2Fnzdusd-2.png&hash=f7238e00d7dbaaa20be15efd3b174326)
Support levels: 0.6107, 0.5929, 0.5755 | Resistance levels: 0.6246, 0.6559, 0.6869