NZDUSD Analysis Jan 24, 2021

On the weekly timeframe we are still overall bearish as we are right below a key level of resistance. On the daily timeframe last week failed to close as a bearish engulfing so I do expect this to head higher back into the weekly key level of resistance. On the H4 timeframe is where I see things the clearest. We are in a downtrend clearly but finding a level of support around the 61.8% level. I will ride this trend up before looking for more short opportunities as long as it remains below 0.72400