NZD/USD Long-Term Trend: Bullish
Key Resistance Levels: 0.7108, 0.7237, 0.7316
Key Support Levels: 0.7011, 0.6938, 0.6789
The price on the higher time frame was in a clear uptrend where it is bouncing inside a bullish flag formation. This pattern shows that the price is in a correction. At the 50% Fibonacci retracement level, the price found buyers which could cause a move upward in the same direction of the main trend.
NZD/USD Medium-Term Trend: Bullish
On the 4-hr time frame, the price is trading inside a bearish channel formation where the price is being pushed to the downside. Recently, the pair managed to break the channel to the upside which shows that the buyers are in control and they might succeed to push the price to the upside.
Buy Limit Order @ 0.7011
TP 1 @ 0.7095
TP 2 @ 0.7108
Stop Loss @ 0.6983
Trade Safely 🙂