NZD/USD: kiwi wants more

NZD/USD: kiwi wants more


BUY 0.6895

SL 0.684

TP1 0.6995 TP2 0.7165

On the daily chart, bulls managed to lead the pair outside of the descending channel. If they manage to bring the NZD above 0.6907, the risks of a “Shark” pattern will increase. Its 88.6% target lies at 0.7165.


On H1, NZD/USD is retesting the “Head and shoulders” neckline. Recoil from resistance will allow bears to pull the kiwi down to 88.6% and 113% targets of the “Shark” pattern. On the other hand, successful test of resistance at 0.6895 will increase the risks of more upside.





USD/TRY has moved sharply down this week falling to the support line since the end of November.

Trade ideas for gold

The downside correction is long due in XAU/USD. Gold is stuck ahead of resistance at 1298.50.

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