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NZDUSD 31 May 2024

NZDUSD 31 May 2024 on the daily timeframe, the pair experienced a trend reversal when it touched the Resistance line. Failing to break the resistance and continue to rally, the pair bounced down to 0.61264. However, the pair is still above the kumo cloud, indicating that the long-term trend remains bullish. Bullish signals are again visible on the candlesticks, and the MACD indicator is also above the 0.0 level, indicating the potential to continue rising. Traders need to pay attention to the next support and resistance levels as well as the MACD movement to confirm the continuation of the bullish trend.

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