The New Zealand dollar has been really strong lately. Will it beat the multiyear highs?
NZD/USD: 'Double Bottom' pattern
2019-11-11 • Updated
The uptrend line has been broken, but there's a 'Double Bottom' pattern, which has been confirmed. Thus, it's likely that the pair is going to test the closest resistance at 0.6756 - 0.6772 in the short term. If a pullback from these levels happens little later on, bears will probably try to reach the next support at 0.6718 - 0.6705, which could be a starting point for a larger bullish correction.
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The dollar gains against low-yielding currencies on Wednesday, hitting a five-month high against the yen as US bond yields jumped on the prospects of further economic recovery.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
Bearish scenario: Sell below 2200 / 2194 ... Nearest bullish scenario: Buy above 2197... Bullish scenario after retracement: Consider buys around each indicated demand zone