we should see a spike in price on this NZDUSD pair very soon.
Bullish Divergence also forming on MACD
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The formation of this triangle in the 1D is evident, so I think the price will test the identified support zone and should come down. Let's see how this reacts to the zone and eventually open a short position. This is my analysis. We only open position with bearish confirmation.
New Zealand had nice economic signal by recent data released, in addition, it prohibit stronger than other risk-appetite currency.
In other side, NZD got triple bottom on daily chart, so it may have solid structure to rise forward.
Once NZDUSD breakout 0.6883 and keep above it, the uptrend pattern will be confirm.
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this is my setup for NZDUSD for the next week.
I will open 3 positions with 3 different targets at the fibonacci retracements.
The price is overall in a uptrend at the daily timeframe, so we will take some Pips with the correction.
Have a creat trading week.