NZDUSD Analysis Week of July 10, 2016

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Major resistance on the weekly.

Daily chart has multiple support.

What caught my eye is is giant wick on weekly chart and then a closing of bullish candle. Signs of bull strength.

That being said it is best to look for longs this week.

I wouldn't be surprised to see a giant bearish wick closed on the weekly chart due to all that resistance.

So looking on the 4H chart, I have spotted some nice areas to enter long.

Note there is a gorgeous butterfly harmonic formation .

0.72445 is one good area.

0.71500 is also a good area expecting a bullish wick through the trend-line.

Note that if the trend line is broken I expect a move down to the 0.70000 area.
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