NZDUSD double bottom reversal
Updated
Daily time frame shows price within previous support zone.
Hourly time frame shows price rejected support twice and potentially third.
RSI indicator showing momentum to the upside.
Based on the double bottom pattern, support area and RSI I am biased to the upside.
Hourly time frame shows price rejected support twice and potentially third.
RSI indicator showing momentum to the upside.
Based on the double bottom pattern, support area and RSI I am biased to the upside.
Note
Triple bottom now formed.Sellers not able to break down through the support area.
If price breaks above 0.7240 consider opening long position for the reversal to the upside.
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