NZDUSD 1H FRAME
The bearish breakdown of 0.7250 (lower limit of the depicted range) enhanced the bearish side of the market towards the price level of 0.7100 (recent bottom of October 28) which was broken as well. Bearish persistence below 0.7100 allowed a quick decline towards 0.6960 (BUY zone) where bullish rejection and a valid BUY entry were expected. All T/P levels were successfully achieved. Bearish persistence below the price level of 0.7100 is needed to pursue towards lower target levels around 0.7060 and 0.6990. On the other hand, the price level of 0.7250 remains a significant SELL entry if bullish pullback persists above 0.7200.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.