The Kiwi Is Finally On The Rise, as we see it turning sharply and impulsively up away from the support by Elliott wave theory.
The Kiwi with ticker NZDUSD is finally on the rise after we noticed an A-B-C corrective decline in wave (2) on a daily chart. We warned about that with an article shared on April 10. CLICK HERE
As you can see today on May 29, we can see price nicely bouncing and impulsively recovering, which can be signal that support is in place, especially after RBNZ hawkish shift. So, more upside can be seen within impulsive recovery, just be aware of short-term pullbacks. Alternatively, there’s also a chance for a bullish triangle pattern, but in both cases we expect higher prices at least up to 0.65 – 0.70 area or higher.
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