NZDUSD setting up for Bullish Continuation

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9 September 2021 | Updated: 9 September 2021

Key Support: 0.7075
Key Resistance: 0.7175 – 0.7250

The NZDUSD has been trading with real bullish momentum since it bottomed back in August 20th at the 0.68 level (+5.39% from low to high).
This move created a clean breakout of the previous base at the 0.7115 level and retesting the overall bearish structure.

Price has now pulled back to retest the previous broken highs. The important thing here is that those highs are the previous 2 month’s highs.

My bias is bullish here since that break is clean and price has broken with the immediate bullish flag.

More so because the DXY is rejecting the 92.80 level in a pullback structure to continue its bearish move.

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