New Zealand Dollar Consolidating before Next Bull Leg
Prepared by Jamie Saettele, CMT
A NZDUSD low appears to be in place at 7460 as the rally from 7460 reveals an impulsive structure. It is possible that a 2nd wave low is in place at 7540 which presents a bullish breakout opportunity on a move above 7645. Additional corrective action would lead to a test of 7530/50 and present an opportunity to buy weakness against 7460. A new low in AUDUSD (below 9861) without a new low in NZDUSD would indicate a divergence typically seen at turns.
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