NZD/USD: kiwi prepared for takeoff

NZD/USD: kiwi prepared for takeoff

2019-11-11 • Updated

Recommendation:

BUY 0.6910

SL 0.6855

TP 0.7010 TP2 0.7105 TP3 0.7170

On the daily chart, NZD/USD after fourth unsuccessful test of support at 0.6820-0.6825 returned to the upper border of the consolidation 0.6820-0.6910 range. A successful test of resistance at 0.6905-0.6910 will increase the risks of 88.6% target of the junior “Shark” pattern.  

NZD1.png  

On H1, the inability of bears to lead the pair outside of the uptrend channel points at their weakness. Another test of resistance at 0.6905-0.9610 will lead the pair up to 161.8% target of the “Crab” pattern.

NZD2.png

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