Growth is possible.

On the daily chart, the downward correctional wave of the highest level B ended and the upward wave C and the first entry wave 1 of (1) of C started. Now, the first entry wave of the lowest level i of 1 and the correctional second wave ii of 1 have formed, and the third wave iii of 1 is developing. If the assumption is correct, the NZD/USD pair will grow to the area of 0.6380–0.6540. In this scenario, the critical stop loss level is 0.5848.

On the four-hour chart, the NZD/USD pair is actively increasing in value: at present, it has broken above 0.5977 (retracement 61.8%), and if the downward counter fan is broken out, it will be able to continue growing to 0.6050 (retracement 100.0%). The key level for the "bears" seems to be 0.5932 (retracement 38.2%), below the center line of Bollinger Bands: consolidation below it will ensure a resumption of the decline to the target of 0.5859 (retracement 0.0%).

During the Asian session, the NZD/USD pair is correcting at 0.5930. The New Zealand dollar's attempts to extend its gains earlier this week met with some resistance from the US currency, which strengthened in trading yesterday.

The NZD/USD pair is trading above the support level of 0.5923, and the upward movement may continue to 0.6040 if the macroeconomic data of New Zealand, due on Friday at 00:45 (GMT+2), is positive. 

On the four-hour chart, the Bullish Marubozu and Morning Star candlestick patterns appeared above one of the key support levels of 0.5860, which signaled an upcoming upward reversal and contributed to the growth of quotes to 0.5965, as well as a series of Rising Three Methods figures, confirming the strengthening of the "bullish" impetus and indicating the continuation of the upward dynamics within a larger downward trend.