LukasFoisy
Short

NZD/USD looks bearish over the next days

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
**This analysis is purely technical.**

Reasons that makes me believe that the probability of an upcoming bearish movement is bigger than bullish action:

1) On the daily chart , we saw new highs but there is a huge divergence with RSI that shows lower highs
2) Price broke the 20-period SMA
3) Price broke the 23.6 Fib level (as shown on the D1 chart)
4) On the H1 chart, we can see a clear downtrend

Be careful however because we have strong levels coming ahead with a lot of buying pressure. Additionally, RBNZ announcement in the upcoming week to be a market-mover if there is some sort of surprise.

With that being said, feel free to comment and happy trading!

L.F.
LukasFoisy
2 years ago
I also forgot to mention the inside bar on the daily chart that is also a bearish pinbar. Sorry!
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