NZD/USD Forecast: kiwi catches up with the Bat

news_22_feb_nzd_usd_1On the NZD/USD daily chart, the quotes’ exit from the consolidation range of 0.6980-0.7050 and from the triangle allowed the bears to restore the downtrend.

Targets in the AB = CD and Bat patterns located in the area of 0.675-0.68 are still relevant.

It makes us believe that the downward momentum is strong enough.

On the NZD/USD hourly chart, there is a stable downtrend. As long as quotes are below the resistance area of 0.6915-0.6925, the sellers remain their control over the pair. In this situation, you should consider opening short positions on the quotes’ growth, or on the update of the previously hit lows.

Recommendations: SELL 0,6915 SL 0,697 TP 0,68.

Origin: FX BAZOOKA

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