Growth is possible.

On the daily chart, the upward wave of the higher level (C) develops, within which the wave 3 of (C) forms. Now, the third wave of the lower level iii of 3 is developing, within which the wave (iii) of iii is forming. If the assumption is correct, the NZD/USD pair will grow to the area of 0.6540–0.6850. In this scenario, critical stop loss level is 0.6102.

The NZD/USD pair is correcting at 0.6329 amid poor macroeconomic statistics from New Zealand.

The NZD/USD pair is showing a moderate decline, leveling out the results of the significant growth the day before: the instrument is again testing 0.6300 for a breakdown, while traders are awaiting the publication of statistics from the US on the Personal Consumption Expenditures - Price Index, which will take place today at 14:30 (GMT+2).

The NZD/USD rate rose to a December 2023 high of 0.6350 after the publication of poor US macroeconomic data and the Reserve Bank of Australia (RBA) officials kept the interest rate at 4.35%. The regulator’s “hawkish” monetary policy supports both the Australian dollar and the New Zealand currency, as the two instruments are in the same trading zone and are linked to each other strongly.

On the four-hour chart, quotes are holding in the area of 0.6234, having formed Piercing reversal patterns of candlestick analysis at the key support levels of 0.6131–0.6197, as well as a series of figures Inverted Hammer and Bullish Marubozu signaling active pressure on the price from buyers and indicating a continuation of the upward dynamics to the resistance level of 0.6271, overcoming which will allow continuing the movement to the region of 0.6359–0.6470.