NZD/USD got into a cage

NZD/USD got into a cage

2019-11-11 • Updated

Recommendations:

SELL 0.6715 SL 0.677 TP1 0.6615 TP2 0.6515

BUY 0.6855 SL 0.68 TP1 0.6915 TP2 0.6975 TP3 0.7025

On the daily chart of NZD/USD, bulls tried to lead the pair out of the downtrend channel and trigger the “Bat” pattern but failed. The pair formed a consolidation range of 0.672-0.6855. If it gets out of it, it will find the direction for further movement.  

nzdusd_d.png  

On H1, NZD/USD is consolidating within a short-term downtrend. Bears are trying to finish the “Widening wedge” pattern and continue the decline.

nzdusd_60.png

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