Hi traders,
The NZD/USD has formed an ascending trend pattern and there is still more room to the upside. POC bounce should target a new confluence zone.
Bounce from 0.6720-40 is a part of a trend continuation pattern. The first target is W H3 & 7/8 MM confluence – 0.6775, while the second target is W H4 & 8/8 MM confluence exactly at 0.6835. The three ascending trend lines additionally support the uptrend. If the price gets to 0.6835 watch for either a further breakout or a rejection. Ideally the price should stay above 0.6700 for uptrend momentum.
Loading
For more daily wave analysis and updates, sign-up up to our ecs.LIVE channel.
Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea