The NZD/USD has formed an inverted Head and Shoulders pattern, and we can see a breakout above the neckline (blue). 0.6790-0.6805 is the POC zone, and the price could bounce from the zone on another retest. However, a break above 0.6839 might initiate a new bullish move towards 0.6900. As long as the pair is above 0.6729, bulls should be safe.
- W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
- W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
- W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
- D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)
- D L3 – Daily Camarilla Pivot (Daily Support)
- D L4 – Daily H4 Camarilla (Very Strong Daily Support)
- POC – Point Of Confluence (The zone where we expect price to react aka entry zone)
Best wishes,
Nenad
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