NZD is still within that 100 pip channel on H4. GBP/NZD is also bouncing within a channel... both of them as two partners in crime seems to be preparing for some action... but where?... intuition tells me that NZD may want to break out of this channel upward which would drive GBP/NZD down outside of its channel... but I am watching closely these two guys on H4... my caution is the very fact that GOLD is back in green.. but can it sustain itself there?... if NZD does break upward it might run not more than into 1.8500 (0.618 Fibb retracement level), if downward than it might even move below 0.8000.
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| GBP/NZD (on the left) and NZD/USD (on the right) H4 |
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