NZDUSD – The Market Is Going to Reverse
New Zealand Dollar/U.S. Dollar FX:NZDUSD
The price reached the support zone , and the price action here will show us the further market movement.
The previous upward movement was started from this zone. We got the bearish divergence and the breakout above the downtrend line. The market made a good upward movement after that.
When the price bounces from SMA50, the target for a downward movement was 0.65000 support level . And as we can see the price could reach it. It’s time to watch for the market and wait for a new trading opportunity based on a reversal signal.
If the price breaks the support zone and drops below 0.64800, the next buy opportunity will be in the zone between 0.64250 and 0.64000 support levels.
Source: TW DLavrov