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Elliott Wave Analysis: NZD/USD Resumes The Uptrend, More Upside After Set-Back

NZDUSD is turning higher with impulsive price action, out of a downward channel so we assume that corrective wave four is finished and that pair can be back in bullish mode. However, nothing moves in straight line so current reversal down is normal and ideally it will be made by three subwaves within wave 2) that may looking for a support near 0.7-0.71 area. Invalidation level is at 0.6939; so as long this holds we will expect a bounce.

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