NZD/USD: kiwi is poised to fall lower

NZD/USD: kiwi is poised to fall lower

On the NZD/USD daily chart, a workout of the triangle with its lower border acting as a solid resistance allowed the quotes to approach 113% and 161.8% targets of the Crab and AB = CD patterns. A break of the convergence zone 0.6745-0.6785 may result in the continuation of the downward movement. 


On the NZD/USD hourly chart, the target 113% should be fulfilled for the quotes to slide towards 38.2% and 50% levels of the CD wave. Rebound from the supports at 0.687 and 0.6885 can be used for opening short positions.


GBP/USD is volatile

The pound has made 2 sharp declines in January but then was bought back and quickly rebounded.

Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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