NZD/USD: bulls are counterattacking

NZD/USD: bulls are counterattacking

Recommendation:

BUY 0.7280

SL 0.7215

TP1 0.7335 TP2 0.7395 TP3 0.7475

On the daily chart of NZD/USD, the third attempt of bears to conquer an important support at 0.7185 failed. It points at the weakness of sellers. The necessary conditions for uptrend’s resumption are a successful test of resistance at 0.7265 and the pair’s exit from the short-term descending channel.

NZD1.png 

On H1, a break of resistance at 0.7280 will increase the risks of “Head and shoulders” and “Shark” patterns. Target at 88.6% of the latter is near 0.7335.

NZD2.png

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cad
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jpy

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