NZD/USD over the past 3-4 weeks has been trapped inside of a , creating lower lows and lower highs in a market that seems to be oversold. Prices are rejecting the key monthly support levels around 0.67755 indicating a possible breakout ahead to the upside around 0.68761 ( ) - confirmation on the is required (now forming a ) for upside targets to be insight.
CAUTION: / pattern is in the middle of the , NZD/USD could move lower and possibly break monthly support levels if prices fail to breach 0.68761.
2. Long Tailed
3. Prices Rejecting Key Monthly Support Levels
1. Found in the middle of , could signal indecision before breaking lower.
2. Price failed to break
Target Level - 0.68761 (Short Term)