• The bulls are seeking a retest of the old support on the daily chart.
  • A weekly reverse head and shoulders could be in the making. 

NZD/USD is on course for an upside continuation according to the following analysis on the weekly and daily time frames. 

The bulls will be seeking a break of the daily resistance which could come of a firm retracement in the coming session. 

Weekly chart

The right-hand shoulder of the potential bullish reverse head and shoulders could be playing out. 

Daily chart

The daily chart shows an M-formation that ties in with the bullish upside bias from a weekly perspective for the immediate session ahead. 

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