NZDUSD: Watch For a Buy Setup at The Lower Parallel

Price has reached the lower parallel of the median line where it seems it has formed a wedge pattern. Having in mind that the slope of the pitchfork is pretty valid, most likely the lower parallel will act as support making the price move to the upside. At the current level, we may start watching for a buy setup completion.

A breakout above the wedge followed by a correction will be a great opportunity to go long.