Elliott Wave Analysis: NZDUSD Can Take A Break!

Hello traders!

NZDUSD is recovering in impulsive manner from the lows, however this rise can be coming to an end. We are observing a potential leg v of a bullish cycle in progress, that can look for resistance, and a temporary top near the 161.8/200.0 Fibonacci projection zone (0.669/0.6710 region). After wave v fully develops, a temporary a-b-c setback may take place.

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NZDUSD, 1h

nzdusd, 1h