NZD/USD currency pair analysis

The NZD index tested the support level of 60.58, and the dollar index tested the level of 109.80, which was formed exactly 20 years ago — September 2, 2002.

The currency pair's descending wave structures are truncated. The Awesome Oscillator indicator has a bullish divergence, and the Stochastic Oscillator indicator signals oversold. 

Trading idea:

Buy after the 4-hour candle closes above 0.6120 (level of last impulse candle, circular minor, and return above support level).

Stop-loss: 0.6050.

Target levels: 0.6120; 0.6197.