On the NZD/USD daily chart, target 88.6% in the “Bat” pattern has been implemented. At the present time, this pattern can be transformed into 5-0.
This implies a 50% correction in the direction of 0.7070 and restoration of the downtrend.
On the NZD/USD hourly chart, there is consolidation after the breakout of the downtrend. There can be an accumulation of long positions or closing of short positions by the major market participants. To develop a corrective movement, the “bulls” will need to test the resistance at 0.6955.
Recommendation: BUY 0,6955 SL 0,69 TP 0,707.
Origin: FX BAZOOKA
