The NZDUSD rallied just about 19 pips ahead of the proposed 0.6700 handle. The rally till now seems corrective but an impulse here would confirm that a meaningful bottom is in place around 0.6819 levels. The wave structure unfolding since 0.6975 levels could be a running flat for now, with 3 major waves taking shape of a 3-3-5 movement. An alternate could be a triangle unfolding but it is too earl to predict a triangle at this stage. Also note that price could drift lower below 0.6720 levels if a triangle is seen to be unfolding. Looking at the wave structure since 0.6425 lows earlier, the NZDUSD is correcting into a potential Wave 2 or B as labelled here and a Wave 3 or C higher towards 0.7100/200 levels can be expected soon. Looking higher for now against 0.6425 levels.
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Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.