On the 1hr time frame, NZDUSD has failed to surpass its recent high at 0.68564 and as a result of this, there has been a drop in price down to the 0.6777 regions. There was a little bit of buying pressure at this zone however not enough to retest the level mentioned above. The RSI levels on the 1hr time frame show levels to be overbought which indicates that a drop in price is likely. The target of this trade is 500 points/retest of the support level of 0.67377.
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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.