Scenario
Timeframe	Weekly
Recommendation	BUY
Entry Point	0.5945
Take Profit	0.6411, 0.6540
Stop Loss	0.5888
Key Levels	0.5517, 0.5760, 0.5888, 0.6411, 0.6540

Alternative scenario
Recommendation	SELL STOP
Entry Point	0.5885
Take Profit	0.5760, 0.5517
Stop Loss	0.5945
Key Levels	0.5517, 0.5760, 0.5888, 0.6411, 0.6540

Growth is possible.

On the daily chart, a downward correction of the higher level ended as the wave (B), and the development of the upward wave (C) started, within which the entry first wave of the lower level 1 of (C) has formed. Now, a local correction has ended as the second wave 2 of (C), within which the wave c of 2 has formed. If the assumption is correct, the NZD/USD pair will grow within the wave 3 of (C) to the area of 0.6411–0.6540. In this scenario, critical stop loss level is 0.5888.

Main scenario

Long positions will become relevant above the level of 0.5888 with the targets at 0.6411–0.6540. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 0.5888 will let the asset go down to the area of 0.5760–0.5517.