Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
NZD/USD: kiwi is tired of flying
2019-11-11 • Updated
SELL 0.7345 SL 0.74 TP1 0.7275 TP2 0.7245
BUY 0.7395 SL 0.734 TP1 0.7475 TP2 0.75 TP3 0.756
On the daily chart, NZD/USD is retesting the upper border of the consolidation range 0.7185-0.7350. A rebound from support at 0.7350 with the following advance to April high will open the way up to 200% target of AB=CD.
On H1, NZD/USD formed a reversal pattern “Widening wedge” on the basis of “Three Indians”. A successful test of support at 0.7345 will allow bears to count on a correction. To resume the uptrend, bulls need to push the pair above resistance at 0.7395.
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