NZD/USD:  will kiwi return to bears?

NZD/USD: will kiwi return to bears?

Recommendations:

BUY 0.7225 SL 0.728 TP1 0.728 TP2 0.737

SELL 0.7175 SL 0.7105 TP2 0.705

On the daily chart, the inability of bulls to hold the pair above the lower border of the bullish trend channel increases the risks of the pair’s advance to 127.2% target of AB=CD.

NZD1.png 

On H1, NZD/USD formed a “Widening wedge” pattern within consolidation to the short-term downtrend. The pair’s return to 23.6% of the wave 4-5 will create grounds for a reversal. On the other hand, decline below 88.6% of the wave 4-5 will be a signal of the bearish trend resumption.

NZD2.png

 

nzd

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