NZD/USD strong confluence at the 4-hour W

Nenad Kerkez Top-XE

The NZD/USD is having a move exactly from the 1-2-3 pattern and towards the next support as a part of pre NFP profit-taking.

The NZD has been one of the strongest currencies this week. However, profit-taking could make the price retrace towards the ATR support at 0.7187 and further down to 0.7131 which will depend on the NFP result. The final target is 0.7032 which happens on the USD strength. If 0.7304 breaks the pair will go further up.

The analysis has been done with the CAMMACD.Core System.

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Author

Nenad Kerkez

Top-XE

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