By Admiral Markets
The NZD/USD consolidation has just broken above the retracement trend line and D H3 camarilla level at 0.7288. The pair has been in a steady uptrend since December 2017, and 0.7305 could be the next target. Breakout of 0.7305 or 4h close above it and the famous “kiwi” could go to 0.7330-50. As long as it stays above 0.7240, the intraday trend is bullish.
W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
M H4 – Monthly Camarilla Pivot (Very Strong Monthly Resistance)
M L3 – Monthly Camarilla Pivot (Monthly Support)
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M L4 – Monthly H4 Camarilla (Monthly Strong Daily Support)
POC – Point Of Confluence (The zone where we expect price to react aka entry zone)
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Article by Admiral Markets
Source: NZD/USD Retracement Trend Line is Broken
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