NZDUSD has broken the H&S neckline in five waves from the bottom of the right shoulder, and is currently at a fib confluence resistance. Highlighted is a favorable spot for considering continuation longs at the confluence of the H&S neckline, 61.8% retracement, the channel's upper boundary, and wave (iv).
Failure at the spot may imply that the pair may be in an A-B-C correction within the general downtrend.
Failure at the spot may imply that the pair may be in an A-B-C correction within the general downtrend.