NZDUSD – I analysed this pair a week ago, when the price broke the top of the Inside Bar (red rectangle on the chart below). The quotations moved in line with expectations and after reaching the planned level of 0.6320 , returned to the upper IB limit.

NZDUSD Daily a possible correction

Currently, the price is returning to increases and a continuation of the upward correction is very likely.

If we look at (below) graph H4- we will notice that the quotations have formed a pattern of a symmetrical triangle, from which it is very probable that the price will break up.

NZDUSD H4

Overcoming the resistance of the triangle will be tantamount to overcoming the supply zone. The upward scenario is supported by upward divergence in the daily chart. Breaking down will negate the upward scenario.

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