The NZD/USD is currently in a consolidation period on the D1 timeframe.
If we take a look at the Technical Analysis, we see that overall trend is in a short/neutral state.
The chart below shows that some traders are expecting a nice bull reversal using technical harmonics. RSI has exited and appears to be re-entering the 25 level (another indication that a reversal for a long position may be in sight).
If price breaks and holds above 0.65635, then we have a nice setup for a long entry.
If price breaks and holds below 0.649072, then we have a nice setup for a short entry.
Our long target range is 0.659369 – 0.662279
Our short target range is 0.646123 – 0.643357
Cheers to another successful week!