NZD/USD Falling After Being Overbought
NZD/USD and all other NZD pairs have seen a bullish trend over the past week. It seems this trend is correcting for the time being. The RSI was severely overbought at the moment it hit the trend line, making the reversal from the resistance more believable (and tradeable)
Support 1 would be the most conservative target for a short trade. In case bearish NZD sentiment keeps persisting through next week, we could even reach Support 2.
Support 1 would be the most conservative target for a short trade. In case bearish NZD sentiment keeps persisting through next week, we could even reach Support 2.
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