NZD/USD - could climb higher for a retest of 0.67

COT reports showing strengthening of NZD for some time, bringing the situation to almost neutral direction of the pair, possibly a range in the future. Based on weak DXY we want to see a push to the upside before going down to the lower band of the channel.

Technically speaking, NZD/USD is trading at the middle band of the upside channel. We expect a short term push to the upside, retesting the 0.67 resistance and creating an M formation.

We can start looking for longs now. However, if you want to take the conservative way, best entry is at retest of previous support, aligning with the 200 MA, 0.66- 0.658 liquidity area.

Comentarios:

The price is now at our entry area.

Comentarios:

And price nicely bounced back up exactly from the 200 EMA.
Holding buy positions now in profit. Leave the trade go towards target.