How High Can Kiwi Climb?
NZD/USD suggest the bullish trend plus the pattern that appear in the charts
Saucer Bottom trading :
Reversal pattern that appear with a small bowl shape and it occurs with a bottom at its bowl works for long-term trading volume. This chart pattern matches defines a long-time consolidation time which executes from bearish to bullish conception. Basically, the rounding bottom is deliberated as a bullish signal that describes a reversal trading. The rounding bottoms look more alike the alphabet U and it is described as rounding turns, saucers and bowls. Consolidation will happen when it descents down during the bottom of series. The V-shaped chart pattern gives yielding returns and it remains reliable in bringing results
unless breaking 0.6570 levels down will illuminate the scenario
Resistance stay in 0.68 – 0.69 – 07 keeps the positive scenario valid and active From fresh 2015 lows, touched in Sept., the pair has managed to register a descent recovery level of its April to Sept. downfall. Hence, from current levels the pair seems more likely to continue with its near-term recovery trend towards an important resistance confluence.
it is likely to extend its near-term upward trajectory immediately towards 0.6710-20 intermediate resistance before aiming towards 38.2% Fib. Retracement level resistance near 0.680o area. On the downside, 0.6570 seems to provide immediate support.
Weakness below will cancel the scenario
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