📌 Potential LONG-TERM SELL setup for: NZD/USD
👩🏽💻Technical: NZDUSD is currently undergoing a pullback as it experienced a recent rejection at the 0.60605 level. The presence of multiple rejections at the monthly and weekly moving averages signals significant bearish pressure in the market. Furthermore, the breach of higher time frame support has now transformed it into a resistance level, further reinforcing the bearish sentiment.
🎯 For an ideal entry: For a strong confirmation that the push > exhaustion cycle is completed, a powerful bearish candlestick forming around the resistance zone would be highly desirable. Such a signal could serve as a compelling indication to sell, potentially driving prices back to previous lows and psychological levels.
🎯 For an ideal entry: For a strong confirmation that the push > exhaustion cycle is completed, a powerful bearish candlestick forming around the resistance zone would be highly desirable. Such a signal could serve as a compelling indication to sell, potentially driving prices back to previous lows and psychological levels.