HomeContributorsTechnical AnalysisNZD/USD Bullish ABCD Supports Possible Bounce

NZD/USD Bullish ABCD Supports Possible Bounce

The NZD/USD currency, popular ‘Kiwi’ is currently very close to POC zone where it might reject from. The POC (D L5, ABCD bottom, ATR pivot) is supporting longs and the price might spike up to 0.7030 where we see the confluence of EMA89 and ATR pivot. If 0.7030 breaks to the upside target is 0.7060 that corresponds to W H3 camarilla and D H5 target. At this point traders might focus on buying the dips as POC is bull-supportive and W L3 bullish support is just below.

Quick Summary:

W H3 – Weekly H3 Camarilla (Weekly resistance)

D H5 – Daily H5 Camarilla (strongest Daily resistance)

W L3 – Weekly L3 Camarilla (Weekly support)

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