JohnnyPurtoy98

USDNZD test of the resistance failed

Short
FX_IDC:USDNZD   U.S. Dollar / Dollar néo-zélandais
The price failed to break the resistance level of the triangle the price is currently within, the price looks like it has gained bearish momentum and has started to move down, this was expected as the RSI was at an overbought position when the price tested the resistance level. I think the price would move down from here and test the support level, there is also a chance that the price could break below the support but that would depend on the bearish momentum. I will update this post once the price has moved further down and has started to approach the support level.

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