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NZDUSD Twofold scenario possible

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The NZDUSD has broken some bullish order blocks and surged upwards reaching 0.6790 zone. The move was initiated by a technical break of a previous order block just above inverted head and shoulders neckline. The move was rejected from the 0.6790 zone and we can spot head and shoulders pattern in progress. We have 2 possible scenarios. POC is important here because the pair will either break or bounce. The POC zone (L4, 50.0, E89, ascending trend line) comes within 0.6595-0.6615 and only the

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