On the daily chart, NZD/USD reached 88.6% target of the “Bat”. This increases the possibility of a pullback to 23.6%, 38.2% and 50% of the wave CD.
NZD/USD: kiwi catches up with the Bat
SELL 0,6915 SL 0,697 TP 0,68.
On the NZD/USD daily chart, the quotes' exit from the consolidation range of 0.6980-0.7050 and from the triangle allowed the bears to restore the downtrend. Targets in the AB = CD and Bat patterns located in the area of 0.675-0.68 are still relevant. It makes us believe that the downward momentum is strong enough.
On the NZD/USD hourly chart, there is a stable downtrend. As long as quotes are below the resistance area of 0.6915-0.6925, the sellers remain their control over the pair. In this situation, you should consider opening short positions on the quotes' growth, or on the update of the previously hit lows.
On the daily chart of AUD/USD, there is a consolidation within the bearish trend.
Bearish Ichimoku Cloud with falling Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen with falling lines; the market breaking down the main daily supports and will continue the downtrend.
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…
The European Central Banks left its key interest rates…