Ivan Karamazov
Technical Analysis

NZD/USD: kiwi caught the crab

On the NZD/USD daily chart, after the implementation of the 88.6% target in the "Bat" pattern, the "bulls" are trying to take the lead. Their goal is to return quotes to the boundaries of the upward long-term channel and restore the uptrend. It is too early to talk about this, however. But the development of correction towards the current downward trend is not ruled out. On the NZD/USD hourly chart, the inverted "Crab" pattern is relevant. Its 161.8% target is located near the 0.714 mark. For its implementation, the "bulls" need to attack the resistances at 0.704 and 0.707 levels.
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