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NZD/USD: Poised To Continue In Its Channel

By Scott BarkleyForexMay 18, 2022 08:39AM ET
www.investing.com/analysis/nzdusd-poised-to-continue-in-its-channel-200624484
NZD/USD: Poised To Continue In Its Channel
By Scott Barkley   |  May 18, 2022 08:39AM ET
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Bullish

NZD/USD is currently at 0.6357 in a flag pattern that's formed in its channel. IF the pair can break Flag resistance, there should be continuation to the ATR target at 0.6450.

Watch for the bounce there, as well as for any change in USDX direction. The ATR for the pair currently is 90 pips per day and its 180 day average is 77 pips per day.

USDX is currently trying to go Down at the time of this post.

NZD/USD Chart
NZD/USD Chart

NZD/USD: Poised To Continue In Its Channel
 

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NZD/USD: Poised To Continue In Its Channel

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