NZDUSD - DOUBLE BREAKOUT TO THE UPSIDE.

Jan 24

Pair has broken out of pattern(s) and this comes with a strong momentum. Would likely see a strong push up to 0.5800 level (over a 100pips) in the coming days with other targets in view. But first level 0.57370 looks more certain intraday and "maybe" offer some resistance. We have the fib. retracement level 0.236 and megaphone upper trendline as obstacle. Would it pullback to resistance now turned support? Not sure, but would Long scalp at any given opportunity.

Jan 27

Note

Price rejected by upper trendline and now retesting resistance area. Waiting on the bounce if that should happen. Also could it deep further to the 0.118fib area? Further deep below the fib 0.118 would nullify this analysis.

On the other hand looking to see if today's candle ends up as an inside bar. Will reserve this pair for tomorrow or next because its looking interesting considering the structure which comes with a lot of volatility and momentum.