As mentioned in recent weeks, “the bullish target zone / potential topping area for the NZDUSD is between .5457 (former 4th wave and 50% retracement) and .56 (61.8% retracement).” Price has reached the upper end of this area, which increases the risk of a strong pullback. Still, stay bullish as long as price is above .5460 (target at .58).
