Nzd/Usd is currently challenging a long-term weekly trendline up,
the signs are there that a low is in place for now - and retracement up
will lead to rejection of breaking out of the weekly trend and a continuation upward for this pair
On the weekly chart we see that the trendline holds for now,
and if a low - last week - is indeed in place,
then the fibonacci expansion of 61.8% of the last weekly move is obtainable:
Nzd/Usd weekly chart
On the daily chart we see the challenge of the weekly tre…
the signs are there that a low is in place for now - and retracement up
will lead to rejection of breaking out of the weekly trend and a continuation upward for this pair
On the weekly chart we see that the trendline holds for now,
and if a low - last week - is indeed in place,
then the fibonacci expansion of 61.8% of the last weekly move is obtainable:
Nzd/Usd weekly chart
On the daily chart we see the challenge of the weekly tre…