NZD/USD Price Analysis: Bulls seeking out the 0.72 area

• NZD/USD bulls seeking a correction of the daily bearish impulse. 
• 0.72 the figure is on the cards if bulls can get above 15-min resistance. 

As per the prior analysis, NZD/USD Price Analysis: Overextended bearish impulse, the bulls are taking up the baton and eye an upside correction of the latest bearish impulse. 

Prior analysis, Daily chart

The bulls have a clear target back to the old support in a 50% mean reversion. 

1-hour chart

The oversold conditions are ripening the price for a break of the immediate resistance. A break there will expose the daily target. 

Live market, 15 min-chart

From a 15-min perspective, bulls are testing resistance while above the 50 SMA and with Momentum testing positive territory.

A break and a retest of the structure would be expected to offer a discount to the bulls targeting the daily resistance.

With a slop loss below the recent lows, a 1:2 risk to reward setup can be established.