It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
NZD/USD: kiwi wants out of its cage
BUY 0.7275 SL 0.7220 TP1 0.7375 TP2 0.7395 TP3 0.7475
SELL 0.7170 SL 0.7225 TP1 0.7075 TP2 0.6965 TP3 0.6780
On the daily chart of NZD/USD, the fourth attempt of bears to conquer support at 0.7185 was a failure. As a result, bulls got a chance to counterattack. The first thing for that is to get the pair out of the downtrend channel.
On H1, NZD/USD formed a “Widening wedge”. A break of resistance at 0.7270-0.7275 will open the pair way to the upside. On the other hand, to continue the declines bears need to pull the pair below 0.7170.
The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
The New Zealand dollar seems to be tipping out against the USD. Will that be another full cascade downwards?
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