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  • NZX 50

    11,946.43
    +143.15 (+1.21%)
     
  • NZD/USD

    0.5948
    +0.0011 (+0.18%)
     
  • ALL ORDS

    7,937.50
    -0.40 (-0.01%)
     
  • OIL

    82.56
    -0.25 (-0.30%)
     
  • GOLD

    2,341.00
    +2.60 (+0.11%)
     

NZD/USD Bullish SHS Pattern Hints Bullish Continuation

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.

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  • 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,

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Nenad

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This article was originally posted on FX Empire

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