Previous Week Update:
- Followed path A beautifully <3.
Upcoming NZD News:
- Wednesday –
- GDP q/q
- Previous – 0.4%
- Forecast – 0.7%
- GDP q/q
Monthly: We have broken upwards on the monthly through the trendline, so the sights of the previous highs is very likely.
Weekly: Strong bullish close just under 0.72000 strong psychological resistance and trendline resistance. We could be looking at a last kiss if the next week ends bearish.
Daily: Strong confluence resistance at 0.7200 of a possible last kiss of weekly broken trendline, in addition to a strong static and psychological resistance. Daily hanging indicating a bearish move coming. Confluence with rate hikes. Need a lower high.
H4: Broke ascending triangle and has been consolidating under 0.72000 with strong wick rejection, I believe we need liquidity that will push price to 0.71500 where there is a nice confluence zone highlighted.
NZDUSD Overall Analysis
- NZDUSD, NZD strengthening, USD uncertainty. If USD strengthens and GDP is strong for NZD this week then we will find a consolidation range from 0.72200 and 0.71500. NZDUSD loves to consolidate.
- If we break up then I am confident in my long term target stated last week of 0.73200.
- Anything is possible, depends on PA and fundamental data.
- Wait for after Wednesday and we should know where NZDUSD will go.
- I am excited for this beauty!