NZDUSD possible continuation of bullish trend

1 min read

2015-04-16_9-56-51

NZDUSD has broken through previous high (0.7607) and it is showing a pullback. 0.7575 region shows confluence ( previous 4 time bottom rejection, 50.0 ) and the price might bounce from that spot. However 0.7560-50 region shows stronger confluence ( DPP, L3, 61.8, trend line ) and the pair might pullback to the zone and reject towards H4 -0.7665. We need to pay close attention to the price if it pullbacks to the zone as we have building permits + unemployment news later in the day which will also influence the move for the pair. Yesterday NZD performed very strong ( NZDJPY has reached the target ) and due to pattern -inverted head and shoulders variant and technical picture the pair could proceed higher.

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