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asferruzzi

NZDUSD double bottom reversal

Long
New Zealand Dollar / U.S. Dollar (FX:NZDUSD)  
asferruzzi Updated   
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Chart Patterns
2
0
chartpattern
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.
Comment:
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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