NZD/USD Bounce at 0.6558 on a Retest Towards 0.6620

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

The NZD/USD has formed a BPC pattern (breakout-pullback-continuation) straight above the order block at 0.6558.
Another retest of the 0.6545-58 zone could show fresh buyers towards 1.6585 and 1.6603. A breakout above 0.6603 should target for 0.6620. The ATR (5) is only 47 pips, so ideal situation would be a retest of the POC zone. In that case buyers would have much better price to long the Kiwi. The price will be bearish only below 0.6515. At this point the NZD is strong and buying the dip seem to be a valid option.

The analysis has been done with the CAMMACD.MTF template.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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