On the NZD/USD daily chart, a short position opened at 0.7187 is still relevant. “Bears” launched a counterattack and revived hope for the implementation of the “Head and shoulders” pattern.
The further movement of Kiwi will depend on the test of the diagonal support – the lower boundary of the upward trading channel.
On the NZD/USD hourly chart, there is a final stage of formation of 5-0 and an expanding wedge patterns. A successful test of the lower border of the upward trading channel can lead to the restoration of the downtrend.
Recommendation: hold shorts formed from the 0,7187 level.
Origin: FX BAZOOKA
