AUD/NZD faces more downside
AUD/NZD is making movements to the downside which are hard to ignore.
NZD/USD: waves are coming
Recommendation:
BUY 0.7295
SL 0.724
TP1 0.7395 TP2 0.7475 TP3 0.76
On the daily chart of NZD/USD, the inability of bears to break below 0.7170 (50% of the wave 4-5 of the “Widening wedge” pattern) points at their weakness. To resume the uptrend, bulls need to push the pair above resistance sat 0.7395 and 0.7475.
On H1, NZD/USD after forming a widening wedge the pair formed “Wolfe waves”. A break of diagonal resistance at 2-4 will create grounds for continuation up to 1-4.
Ivan Karamazov
Similar
USD/CHF is capped by resistance
USD/CHF may test lower levels this week as long as it keeps trading below the resistance at 1.01.
Technical levels for NZD/USD
The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
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