Triple Bottom on NZD/USD

Triple Bottom on NZD/USD

On the NZD/USD currency pair, the bearish sentiment has been prevailing for quite a long time. Nevertheless, the current technical pattern indicates the development of the correctional movement. Near the key support of 0.68250, a classic reversal pattern of Triple bottom (D1 timeframe) was formed. The local resistance is the level of 0.69300. We recommend you to pay attention to this situation.

If the price fixes above 0.69300, it is necessary to consider purchases of NZD/USD. The immediate goal for fixing profits is a round level of 0.70000. In the medium term, NZD/USD may reach 0.70600-0.71400. Confirmations and entry points to the market should be looked for on lower timeframes.

by JustForex, 2017.12.11

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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