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NZDUSD Reaches First Target, but Short-Term Uptrend Is Still Intact
The NZDUSD has reached the top of a pattern I pointed out to Daily Price Action members on Monday. But before we get to that, I want to recap some of the recent price action. Shortly after bottoming around 0.6200, the NZDUSD started to look relatively bullish. Several factors caused me to think a turn higher was likely. First was the twenty-year trend line support that extends from the 2000 and 2001 lows. The second factor was a possible falling wedge on the weekly time frame. Watch the October 31 video where I point out the long-term trend line as well as the falling wedge pattern. We also had what appeared to be an ... (full story)