NZDUSD - Commencing of an Minor Uptrend - Buy Opportunities

NZDUSD seems to be in the process of beginning a minor uptrend the movement of which could potentially bring the pair to the 0.725 area. On the weekly timeframe, according to our last long term analysis, the pair is in fact in a longer term downtrend, however, before resuming such downtrend, it needs to complete its "C" wave to the upside, which represents the aforementioned minor uptrend we are potentially looking at at this moment. More in detail, the pair has most probably already commenced its first movement to the upside and then has corrected with a regular flat type pattern, which is what we are seeing now (ABC flat, in pink). If this is the case, it seems like a good idea to go for buys, either now, after a small flag consequent to this first happening impulse, or later if it consolidates on the daily after breaking the daily trend (yellow line).

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