Market has consolidated a little bit giving us obvious support and resistance to pay attention to.
First attempt to break the 3-touch trendline it was massively rejected, I am expecting another short term rejection possibly to the bottom support shown. This trade also lines up with the descending wedge spotted on the EURNZD, a temporary short term reversal.
Entry at .6800. Stoplosses should be placed above the most recent high, the candle with a wick poking past the trend line.
Targeting the lower end of the same candle first, bottom support line 2nd.
Please keep in mind that medium term I am expecting NZDUSD to go higher, and then longer term towards the end of the year back down.
Looks like the market is eager to complete the medium term bullish move for New Zealand. Look for bullish price action on a retest of the resistance that was drawn. 4 Hour close is happening right now, we should have a buying opportunity to end the week on.