InvestMate 🥝 NZD/UDS Bounces Off Support Zone 🥝

🥝 NZD/UDS Bounces Off Support Zone

🥝 Nearest strong support zone: around the 0.236 fibo level of the upward wave.

🥝 Nearest strong resistance zone: around recent peaks.

🥝 Technical environment:

📊 Moving averages: Downtrend.

📊 MACD: Downtrend

📊 RSI: Downtrend

🥝 Price Action: NZD/USD rebounds from its first support zone determined by measuring the entire upward wave from the bottom to the current peak. In the medium term, NZD/USD looks more pro-downtrend but the current support zone may rebound the price for some time. It is likely that the decline will continue later this week.

📉 The scenario I'm playing out is to wait for the end of the upward corkscrew and join further declines. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

🚀 If you appreciate my work and effort in this post, I encourage you to leave a like and follow on my profile. 🚀