NZD/USD: kiwi has a vertigo

NZD/USD: kiwi has a vertigo

2019-11-11 • Updated

Recommendation:

SELL 0.7075

SL 0.7130

TP 0.6965

On the daily NZD/USD chart, buyers managed to return the pair to the long-term uptrend channel. This creates grounds for the bullish trend’s resumption. In addition, reaching of 88.6% target increases the risks of the transformation of the “Shark” pattern into 5-0.

NZD1.png  

On H1, bulls took the initiative after NZD/USD formed a “Triangle”. A decline below the previous consolidation range of 0.7075-0.7125 will create grounds for a deep correction.

NZD2.png

 

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