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 0.5773.

During the morning session, the NZD/USD pair is attempting to consolidate above 0.5830, with market activity subdued ahead of the release of US inflation data.

The NZD/USD pair is trading around 0.5806, interrupting the positive trend of the beginning of last week, as the strengthening of the American dollar prevents the growth of high-yielding currencies, such as the Australian and New Zealand currencies.

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.