The riskier New Zealand dollar skyrocketed and pushed the NZD/USD pair up to the resistance level of 0.7150. How to trade it now?
NZD/USD: Kiwi is following a “Crab”
2019-11-11 • Updated
TP1 0.753 TP2 0.756 TP3 0.763
On the daily chart NZD/USD, a consolidation of 0.7185-0.743 is continuing within the “Broadening wedge” pattern. A return of the pair to the uptrend channel, a break of the resistance at 0.743 and 0.7475 will predetermine the recovery of the uptrend.
On the H1, the pair has almost reached the 88.6% target of the “Bat” pattern. After the implementation of the pattern, it will transform into the “Crab” pattern. NZD/USD will continue to move within the “Dragon” pattern.
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