NZDUSD Analysis
Updated
Technically speaking this pair is in an uptrend, and has been for the good of a couple months now. We saw a little bit of retracement after almost a full month or two of price gains, and we saw another pull back last week. But, at the end of the week, price rejected off the 61.8 fib line, not perfectly, but it was a rejection. There is a lot of news this next week associated with this pair that could create new analysis and turn this pair from a buy into a sell. But for now, it is a buy until price breaks our previous low.
Note
The pair just hit the .618 fib. This indicates a potential entry point for a buy. Stop Loss would go below the previous low at .72394, or to be very conservative, below the .786 fib, but we do not expect price to come that far down.
Take Profit: .7366 (.618 fib on this last leg down)
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