The NZD/USD is breaking out of the short term resistance levels and starting to trend higher on the W1 time frame. Traders should set an audible price alert at 0.6945 to intercept the next movement. When the price alert hits check The Forex Heatmap® for a confirmation buy signal.
Check the chart below. The NZD/USD has been in a consolidation zone or cluster for a long time and is now breaking our the consolidation/cluster area. This is a long term consolidation chart pattern You can see that past the alert price point (yellow line) that the next major resistance is at the 0.7600 area. This resistance level is 650 pips of upside potential. We use current trends and support and resistance levels to help us build all of our forex trading plans for 28 pairs across 8 different currencies.