NZDUSD Will Go Up From Support! Long!

Here is our detailed technical review for NZDUSD.

Time Frame: 6h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The market is on a crucial zone of demand 0.612.

The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 0.616 level.

P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.

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Comment:

I thin that the price will hit the TP soon enough!