NZD/USD: kiwi is on the crossroads

NZD/USD: kiwi is on the crossroads

On the NZD/USD daily chart, there is a correction towards the uptrend. A break of the resistance at 0.7345 will increase the risks for the implementation of the target 113% in the Shark pattern. In contrast, an update of the July low will lead to the development of the correction.


On the NZD/USD hourly chart, it seems that Bulls took a break as there is a consolidation after the long-term uptrend. If we are talking about the process of distribution of the short positions, there will be a deep correction. In contrast, the accumulation of long positions will lead to the continuation of the rally.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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