NZD/USD: bulls are prevailing

NZD/USD: bulls are prevailing

2019-11-11 • Updated

Recommendations:

BUY 0.7325

SL 0.727

TP1 0.738 TP2 0.7425 TP3 0.7475

On the daily chart of NZD/USD, bulls managed to push the pair out the downtrend channel and gain a foothold above the important level of 0.7263. It is a good sign of the uptrend. To continue the rally, bulls should break the upper boundary of the 0.7185-0.735 consolidation.

nzdusd_d.png

On H1, after the pair reached targets of the “Broadening wedge” pattern, bulls are going to implement the “AB=CD” pattern with the 161.8% target.

nzdusd_60.png

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