Bulls engaged at H4 support, eye 0.7050
- NZD/USD bulls are stepping in at 4-hour support.
- Bulls are looking for a continuation of the bull trend for fresh daily highs.
NZD/USD is setting up for a possible bullish continuation on the daily chart and the following illustrates the market structure there and lower down on the 4-hour chart:
NZD/USD daily chart
The price has corrected back to test the prior resistance that is now acting as support. Should this hold, the bulls could be encouraged to commit to the broader bullish trend and a higher high could be on the cards for the foreseeable future. 0.7050 will be a focus in this regard.
NZD/USD H4 chart
The 4-hour chart shows the price establishing a support structure from which the bulls have engaged at. A break of the recently printed 4-hour highs near 0.6960 would be encouraging.
