The pair is expected to decline.

Supposedly, the bullish correction of senior wave level within the fourth wave iv has finished to form. Apparently, the fifth wave has started to form, with a bearish impetus (i) and correction in a form of wave (ii) completed within. If this assumption is correct and the price does not break the critical level 0.7632, it's logical to expect the pair to continue declining to a level of 0.7200 within the third wave.

Trading tips

Sell the pair from correction below the level of 0.7632 with a target at 0.7200.

Alternative scenario

Breakdown and consolidation above the level of 0.7632 will allow the pair to continue the rise up to the levels of 0.7900-0.8000. 

NZD/USD: wave analysis

NZD/USD: wave analysis




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