• NZD/USD bulls stay in charge as the bearish trend stalls and shows prospects of a correction. 
• A 38.2% Fibo retracement puts the 0.69 areas in focus for the New Year.

NZD/USD has rallied this week so far and is showing little signs of retreating at this juncture. should the bull stay in control into the holidays, it will leave a bullish foundation for the New year. The following illustrates a bullish bias from a weekly perspective:

NZD/USD weekly chart

NZD/USD's bear trend is showing signs of weakness and could be on the verge of a meaningful correction with the 38.2% Fibonacci aligned with the prior support between September and October. This puts the 0.69 areas back into focus for the weeks ahead.