Elliott Wave Analysis: NZD/USD In A Bullish Trend

NZD/USD started recovering from 0.592 with higher highs and higher swing lows. This now looks like a strong uptrend. The price might be seeing a correction as wave 4) within the uptrend, with support at the 0.637/0.634 zone, therefore, we might see a bit of a slow-down ahead. If we get a quick burst higher above the 0.658 high, that could suggest wave 4) is completed, and wave 5) is underway, targeting the 0.66/0.67 region.

nzdusd, 4h

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