nzd-usdTrend is bearish in four hours chart. Key resistance level is present at 0.7484 price level. In past few trading days, price has dropped and printed a possible Bearish Impulse Elliott Wave pattern. Currently; p rice is moving up and I now expect a bullish Elliott wave Zig Zag Wave 2 leg in coming trading days.

Wave 2 bullish Zig Zag leg offers a sell trade setup to join the down trend. However; if bullish candlestick closes above 0.7484 vital resistance level then down trend is going to fail. In such case, I would prefer to stay out of the market and re-analyze the price action in NZD/USD currency pair.

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