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NZD/USD Potential Upward Movement

NZD/USD Long-Term Trend: Bullish

Key Resistance Levels: 0.7086, 0.7149, 0.7200

Key Support Levels: 0.7010, 0.6919, 0.6900

Daily Chart:

The price on the higher time frame broke the expanding flag to the upside after it managed to close above the Wyckoff accumulation phase. The pair retraced to the 0.7010 USD mark by posting a correction before it moves to the upside again toward the next key level.

NZD/USD Medium-Term Trend: Bullish

4-Hour Chart:

On the lower time frame, the managed to break the bullish flag formation to the upside with the help of a bullish head and shoulders. A lower correction could be seen to the highlighted zone before the new impulsive wave to the upside.

Signal Idea:

Buy Limit Order @ 0.70123

TP 1 @ 0.70842

TP 2 @ 0.71490

Stop Loss @ 0.69890

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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