NZD-USD likely to continue rebound

AFTER bottoming out in March 2020, the NZDUSD staged a bullish reversal and has since been on a gradual ascent to date.

An ascending wedge that extended into 2021 was formed with the higher highs forming the upper channel line, and the higher lows plotting the lower trend line. The ascending wedge can be identified by the two upward sloping lines that opened wide and gradually narrowed as the prices moved higher.

At the time of writing, we can observe that the pair has rebounded from the lower band of the ascending channel.