NZDUSD currency pair has been trading sideways recently. Looking at the D1 interval, buyers struggle to break above the resistance zone at 0.7305. In turn, the zone at 0.7130 acts as a support, where demand has appeared many times. Therefore, it seems that only overcoming one of the above-mentioned areas could lead to a greater price movement. In the event of a break above the resistance, a move towards the recent highs at 0.7440 would be possible. On the other hand, if the support is negated, the sell-off could even reach recent lows at 0.6950.
NZDUSD interval D1. Source: xStation5
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Create account Try a demo Download mobile app Download mobile appAs for the lower time frame - H4, the last corrective moves (marked with red rectangles) were of the same range, which, according to the Overbalance methodology, indicates that buyers have an advantage. If the current sentiment prevails, then another upward impulse towards resistance at 0.7305 may be launched.
NZDUSD interval H4. Source: xStation5
