NZD/USD: the kiwi will rise

NZD/USD: the kiwi will rise

Recommendation: BUY 0.6865 SL 0.6810 SL 0.6965 TP2 0.699 TP3 0.7055

On a daily chart of NZD/USD, the pair reached convergence zone between 0.6870-0.69 (the 161.8% and 113% targets on the “Crab” and “Shark” patterns). After that, an expected reversal happened. The buyers need to push the price above the resistance at 0.6855 to continue strengthening.

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On H1, the “Three Indians” and 1-2-3 patterns are implemented. If the pair makes a reversal towards 38.2% and 50% from the CD wave of the “Crab” pattern with the following bounce from the supports, the long positions can be opened.

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