The probability of growth remains.

On the daily chart, an ascending wave C is developing, within which the first lower-degree wave 1 of (1) of C has already emerged. A downward correction has concluded as wave 2 of (1) of C, and wave 3 of (1) of C is currently forming. On the four-hour timeframe, the construction of the third wave of the lower degree iii of 3 is observed, while the local corrective phase as wave (ii) of iii has already been completed, and wave (iii) of iii is currently in progress. If this scenario proves correct, the NZD/USD pair’s upward trend is expected to continue toward the 0.6200–0.6350 zone with a critical stop loss at 0.5810.

The NZD/USD pair started the current week with a decline, reversing around 0.5981 (Murrey [6/8]). At present, the price is testing the middle line of the Bollinger bands around 0.5900.

The New Zealand dollar is posting modest gains in the NZD/USD pair, consolidating after the rapid “bearish” dynamics of the previous day and testing the 0.5935 level for an upward breakout, while market participants await new drivers for the quote’s movement.

The NZD/USD pair is strengthening, trading around 0.5969 and breaking the negative trend observed early last week, as the renewed weakening of the American dollar allowed high-yielding assets, such as the New Zealand and Australian currencies, to receive significant support.