On the NZD/USD daily chart, quotes dropped below 0.7 level. The target formed at the 0.7187 on the short positions was fulfilled.
The fact that the quotes went beyond the long-term rising channel signals us that the bears took the initiative in their hands.
New Zealand Dollar can slide down towards 0.6785 and 0.659 levels.
On the NZD/USD hourly chart, we may notice that the expanding wedge pattern and AB = CD pattern worked out. The nearest resistance levels are located near the 0.694 and 0.698 levels. The rebound from these levels will allow us to form shorts.
Recommendation: SELL 0,698 SL 0,7035 TP1 0,6785 TP2 0,659.
Origin: FX BAZOOKA
