NZD/USD Close to a Possible Retracement

1 min read
Ivanhoe1610

Ivanhoe1610

Forex broker

 

The NZD/USD, popular Kiwi has been in a steady uptrend since the price has broken descending trend line. The movement has been made in a steady zig zag motion which indicates a strong bullish trend. At this point the price is close to POC zone (W H3, ATR high) and the zone is kept below M H4 strong camarilla resistance. 0.7230-40 could reject the price towards the ascending trend line 0.7198 and further down to 0.7145 if trend line breaks. A violation of 0.7250 where the price breaks and closes above it, would negate a possible drop.

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