The riskier New Zealand dollar skyrocketed and pushed the NZD/USD pair up to the resistance level of 0.7150. How to trade it now?
NZD/USD: the kiwi is rising
2019-11-11 • Updated
BUY 0.6885 SL 0.683 TP1 0.6985 TP2 0.7085 TP2 0.7125
On the daily chart of NZD/USD, the 113% target of the "Shark" pattern was reached. This situation increases risks of the reversal towards 23.6%, 38.2%, 50% from the CD wave. If bears cannot take over, it will show their weakness. As a result, the possibility of rising towards 0.6990 and higher increases.
On H1, the rebound from the support at 0.6775 due to the implementation of the "Crab", "Three Indians" and 1-2-3 patterns' combination helped to open long positions. If the pair makes a reversal towards the support at 0.6885, the possibility of a rise will increase.
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