NZDUSD Bouncing Along.

15 Feb 2018

After aggressively reaching our daily support @ .72 we have seen price create its low. This key level upheld by the 61.8% Fibonacci confirms a bull bias. Also to strengthen this bias price action destroyed the .73 resistance level signifying strong bulls in the market. The next level for price to attain is a retest of the current structure high which coincides with the .74 daily resistance level. After waiting for price to react from its current mood we can set an aggressive target @ .7458 level which is at a favored Fibonacci Extension of 1.618% which if hit we can further assume bullish momentum. We may see price return to the .73 support level in the near term as a correctional wave to eventually provide some momentum to potentially hit our desired target areas.

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