NZD/USD: opponents concluded a truce

NZD/USD: opponents concluded a truce


BUY 0.7280 SL 0.7225 TP1 0.7325 TP2 0.7395 TP3 0.7430

SELL 0.7185 SL 0.7240 TP1 0.7130 TP2 0.7085

On the daily, NZD/USD is consolidating in a range between 0.7185 and 0.7430. A break of its lower border will increase the risks of a correction. On the other hand, the return of the pair inside the uptrend channel with the following test of resistance at 0.7430 will open way up for the pair. 


On H1, NZD/USD advance above the upper border of the downtrend channel and resistance at 0.7280 triggered the “Bat” and the “Crab” patterns with targets at 88.6% and 161.8%.




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