The NZD/USD has the chance to form a fresh uptrend on H4 timeframe, but it needs to stay above Wizz and Camarilla confluence levels.
We can see that MH3 camarilla pivot is slightly above W L3 and in a confluence with 0.6406 Wizz level 0. This makes 0.6377-0.6406 a POC zone where the price might bounce from. It is important for the NZD/USD to keep above the zone as the drop below could resume a downtrend. Targets are 0.6461, 0.6495 and 0.6521. A loss of 0.6375 could target 0.6329.
The analysis has been done with the CAMMACD.MTF template.
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Many green pips,
Nenad Kerkez aka Tarantula FX
This article was originally posted on FX Empire
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