The current technical analysis of the NZD-USD currency trading pair reveals an DECREASING trend that has been shaping from last few hours. However, there is also an indication of BULLISH divergence, suggesting that the bearish momentum may be losing its momentum.
Looking at the charts, we can see that the price of NZD-USD has been steadily FALLING forming Lower Highs and Lower Lows, indicating a clear down trend.
However, there is a notable bullish divergence pattern emerging, indicating that the bearish momentum may be losing steam. While the price of NZD-USD has been decreasing, the Relative Strength Index (RSI) has been showing a upward. This divergence between the price and the RSI suggests that the price may be oversold and due for a correction.
Considering all the technical indicators, it appears that the NZD-USD currency trading pair may take the bullish movement from the ENTRY PRICE mentioned in the chart. Thus, it can be an opportunity for a LONG TRADE if it breaks the ENTRY PRICE.
Order cancelled
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Trade did not activated. Cancelled the Trade at No Profit No loss