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NZD/USD Bullish Bounce Targeting 0.6790 and 0.6820

Nenad Kerkez

Hi traders,

The NZD/USD has made a trend change after the double trend line break to the upside around 0.6880. A failure to close below formed a wave of fresh buyers.

A retracement to POC zone 0.6710-20 could be used for buying into the dip. Targets are 0.6760, 0.6790 and 0.6820. It should happen after a retracement. If we don’t see any retracement, then a close above 0.6790 is needed for a further continuation up.

The ATR of the NZD/USD is not high, the movement is slower so patience is needed for a setup to develop.

(The analysis has been made by ecs.CAMMACD.MTF trading template)

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

This article was originally posted on FX Empire