We can see overextended inversed Head & Shoulders pattern and possible AB=CD formation in a future. Our demand level nicely fits with 0.618 fibonacci level so I expect price retrace to this point. Then I would like to see our AB=CD formation followed by another retracement and move to the resistance level. NZD is much stronger than USD (source: currency strength index) and also COT tells us that we should buy this pair after those retracements.
