NZD/USD Rocketed. Is Rally Over?
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 wants to get into an old cage
2019-11-11 • Updated
Recommendation:
BUY 0.7075
SL 0.7020
TP1 0.7165 TP2 0.7265
On the daily chart, buyers managed to lead the pair outside of the short-term consolidation range and return them inside an uptrend channel. If they succeed, the risks of an uptrend resumption will increase. The recoil of diagonal resistance will allow expecting the test of resistance at 0.6963.
On H1, NZD/USD is realizing “Head and Shoulders” and “Shark” patterns. If the pair renews December high, it will create grounds for 88.6% of the “Shark” patterns.
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