FX.co ★ Candlestick analysis of the NZD/USD for December 14

The growth of the NZD/USD pair was limited by the resistance level of 0.7580. Earlier on a 4-hour chart the pair has developed the combination of candlesticks Bullish Engulfing, which indicates the uprising movement.
This combination of candlesticks formed after the pair failed to break out the support level of 0.7400, which means that the bears did not manage to solidify here and the bulls started increasing their influence.
A breakthrough of the Fibonacci correction level 38.2 and resistance level of 0.7630 means that this viewpoint is correct. The uprising movement to the Fibonacci correction level 61.8 with the next target to 0.7853 should be expected.
It is recommended to set the stop orders slightly below 0.7400, as the breakout of this support level will target the currency pair to 0.7150-0.7200.