Perfect whipsaw set up on the NZDUSD

The points of liquidation that was marked out on this pair has yet to be visited. As the price trades within a narrow channel, its the perfect set up for a whipsaw to both sides to liquidate all the retail traders.

BULL CASE
We think the new zealand dollar is ready for a major move upwards to break the 0.705 and 0.71 levels.

BEAR CASE
A short term price manipulation to the downside can happen, creating a long wick to the 0.68 level before finding upside.