NZD/USD Could Start a Bearish 4h Move

1 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

The NZD/USD Daily Downtrend is still in progress. However, at this point, we see a 4h retracement that could result in a bearish move towards the W L3 level.

POC zone (W H3, Trendline cross, ATR projection high) 0.7335-45 could reject the price towards W L3. However, M L3 level is a strong support so the price would face a support zone within 0.7265-55 region. In that case, the intraday target could be between 0.7270-80. Only above W H4 – 0.7370 the trend might change to bullish.

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