NZDUSD Buy SetupBUY NZDUSD
Technical Reasons:
1- Positive divergence on MACD
2- Breaking the neck line would confirm the Head and Shoulders Pattern on 4H time frame
3- Breaking Resistance at 0.7335 supports the bullish outlook
Fundamental Reasons:
1- USD is weak because of the Trump Decisions and FED concerns about weak inflation data which may enforce them to lower their rate path expectations in Sep
2- Comdoll is getting higher with the positive outlook for commodities prices and global growth outlook
3- RBNZ wont take any easing measures regarding the recent data albeit he would not rather also hike (neutral stance)
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SL should be placed below 0.7200
TP1 0.7435 - TP2 0.7500 (long term target)
Keep yourself updated with new ideas and data
Good Luck
