NZD/USD Bullish Reversal – Key Levels & Trade Plan

The 4H chart shows NZD/USD forming a bullish structure with an ascending trendline support.

A breakout from the descending wedge pattern signals potential upside momentum.

The price is currently testing a key support zone near 0.5740, aligning with the 23.6% Fibonacci retracement level.

Trade Setup & Levels:
Entry Zone: Above 0.5740 (support holding)

Target 1 (TP1): 0.5817 – previous resistance

Target 2 (TP2): 0.6050 – Fibonacci 61.8% level

Stop Loss (SL): Below 0.5620 (previous support structure)

Bullish Confirmation Factors:
✅ Trendline support remains intact, preventing further downside.
✅ Breakout from wedge pattern, indicating buying pressure.
✅ Higher lows formation, showing gradual accumulation of demand.

Conclusion:
A confirmed breakout above 0.5817 will validate the bullish move toward 0.6050. If price sustains above the resistance, we expect further upside momentum in the coming sessions. 📈