NZD/USD Bounce Towards 0.6835 is Expected

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.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

This article was originally posted on FX Empire

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