NZD/USD: Price May Look For A Reversal Around 0.685/0.692

On the NZD/USD pair we are observing an idea of a flat correction, that may unfold in the wave 2 pullback, with waves A) and B) already visible, while wave C) is midway through its completion. We think that last leg C) may reach levels around 0.685-0.692, before turning again to the downside. Some Fibonacci ratios like 38.2, 50.0 or 61.2 could react as a resistance and a turning point lower.

NZD/USD, 4H

NZD/USD 4H Chart

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