NZD/USD Forecast: kiwi found a place for breakfast

news_22_feb_nzd_usd_2Registration:

BUY 0.7000

SL 0.6945

TP 0.7105

On the daily chart, NZD/USD is consolidating between 0.6820-0.7000 (October low and the lower border of the uptrend trade channel). A break of resistance at 0.7000 will return bulls’ hope for resuming the uptrend. On the other hand, successful test of support at 0.6820 will increase the risks of going to 127.2% and 161.8% targets of “Crab” pattern

NZD1.png

On H1, aggressive market entries imply getting in on the break of the 0.6905-0.6990 range. According to the conservative approach, it’s necessary to wait for a break of a wider trading range 0.6820-0.7000.

NZD2.png

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