After last week's massive sell-off, the NZD/USD should see some retracement before continuing the current downtrend. It has found some support on the daily chart and looks like there could be a rebound to the .717 area. There is a strong resistance area due to previous trendline/structure, fibonacci, and moving average resistance. Watch for price action to bounce off this area before it continues downward.
Disclaimer: this is only an idea and not investment adivce. Trade at your own risk
Disclaimer: this is only an idea and not investment adivce. Trade at your own risk
Kommentera:
Stochastic RSI and CCI also in oversold territory and about to cross over