NZD/USD expecting one last push up

The price has formed a new Elliott structure leading us to believe that we should be seeing one last push up before a drop. The goal is to buy above 0.7326 support (Fibonacci retracement, horizontal overlap support) for a push up to at least 0.7398 resistance (Fibonacci extension, Elliott wave theory).

RSI (55) is seeing support above 50% where we expect it to hold the price up as long as it remains above this level.

Buy above 0.7326. Stop loss is at 0.7296. Take profit is at 0.7398.


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