NZDUSD analysis 10.01.2020

Analysis based on round-number levels, price channels and modified Elliot Waves

The general trend is upward. Round important level 0.6600 discouraged sellers. An H1 level truncated pattern was formed. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator signals oversoldness.

Our recommendations:

Buy as the upward wave pattern is forming, where wave A breaches the inclined channel of the downward pattern.

Stop Loss under the round important level 0.6600.

Target levels: 0.6680; 0.6750.

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