NZDUSD: On the weekly timeframe I am noticing that price is testing a significant level of support but is showing a lot of bearish pressure. Last week closed with a bearish candle closing with a lot of volume for the week.
On the H4timeframe we are clearly in a large all of and price is continuing to make LL’s. We have yet to make a LH point since price has barely pulled back since falling from 0.80200 level price is starting to form a rectangle pattern which means we could have more downward movement. I will be looking to take short opportunities once price breaks the lower support level. I will only take buys if it comes above the weekly resistance zone and makes a HL.