NZD Weekly ACD Setup

Though too early to setup any trade for NZD, but with current state and correlation to other NZD pairs, it is possible for a retracement for NZD this week.

Market movement is against the NZD, with GBP is the most.

GBPNZD with last week GBP momentum, it is still very much possible to maintain that strength this week against NZD. Two weeks ago we've encountered a sideway market which shifted to a trending week last week. No ACD bias yet but likely be A-up this week.

NZDUSD H4, we are approaching a major structure @ 0.8514 below current price which near to Fibo 50% and S&R range from 0.8514 to 0.8544. Possible distributed pips will be around  59 to 80 pips below before possible bounce or break movement.

Also with W1 chart of NZDUSD, we see this:

NZDUSD W1, after a drop last week, possible to continue the retest below before a possible resume on bullish trend next week.

NZDJPY, it is likely a soft retest up at 88.24 before dropping and retest 87.17 with fib 50%, or break lower and test March 17-24 movement ACD IBL 86.35 or Fib 61% at 86.50.

NZDCAD H4, also likely to drop around 60 pips below and will test a major structure at 0.9381

Other pairs like NZDCHF, AUDNZD, EURNZD sync to the movement of pairs stated above.

Will update once ACD bias completed later NY session or early TK session.