NZD/USD: kiwi is losing its ground

NZD/USD: kiwi is losing its ground

On the NZD/USD daily chart, there is a realization of 5-0 pattern. The failure of bulls to push quotes beyond the downward trading channel shows their weakness. There can be a continuation of the downward movement towards 0.674. There is 161.8% target in the AB = CD pattern.

On the NZD/USD  hourly chart, the "Shark" pattern is still relevant. Its target 113% is located near 0.687. The nearest resistance levels are 0.6942 and 0.6965. The market is dominated by bears, so you might consider selling on the growth of the quotes.

Recommendations: hold short positions (SELL 0,6975 SL 0,703 TP 0,687),

SELL 0,6965 SL 0,702 TP1 0,687 TP2 0,674.  

 

nzd

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