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  • NZX 50

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    -141.34 (-1.18%)
     

  • NZD/USD

    0.5968
    +0.0018 (+0.31%)
     

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    0.5550
    +0.0010 (+0.17%)
     

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    -100.10 (-1.26%)
     

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  • NZD/JPY

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    +0.8100 (+0.88%)
     

NZD/USD Bullish Continuation Towards 0.6830

Nenad Kerkez

Dear Traders,

The NZD/USD has made a breakout above the confluence zone and the retest of the zone should provide buying opportunities.

The POC zone 0.6730-40 should provide buying opportunities on a bullish reversal candle retest. At this point the price is supported above the steep trend line but any entry within the zone could instill a renewed bullish momentum. Targets ate 0.6799 and 0.6830 as the weekly target. Have in mind that W H3 confluence should hold if the bulls want to dominate further. Any 4h close below the W L3 might be bearish and we vould see a deeper retracement.

The analysis has been done with the CAMMACD.MTF template.

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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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