NZDUSD Will Go Down! Sell!

Here is our detailed technical review for NZDUSD.

Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The price is testing a key resistance 0.606.

Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 0.600 level.

P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.

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Commentaire:

I am confident in this trade so I will keep it open!