I showed my projection by means of 4 steps and we saw the first step which makes this potential trade towards 0.80 even more likely. However we trade what we see and although I like to see a test of 0.73 to be next, the lower time frames should show us a clear entry. Keep in mind that the move higher was an impulse and I will only trade the correction if it presents itself the way I like it.
I will be looking for a minor impulse lower which we might have seen after the RBNZ rate decision last night. Now I like to see a consolidation and sell the continuation. It is important to wait for structure to unfold itself. This way we stay out of bad trades.
updates will follow
There is a possibility it may never reach there but I would like to see at least another test of the most recent high.
Overall signs are good; daily momentum indicators looking 'overbought', with bearish divergence on the H4 ; some signs of consolidation.