NZD/USD Bearish Railway Pattern on H4 Timeframe

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

The NZD/USD has formed a bearish railway pattern (BRP) on H4 timeframe. The pattern has appeared after a rejection from historical sellers and a trend line. For the next bearish move we should either see a rejection from POC and/or continuation below W H3 camarilla pivot.

The POC zone is 0.7190-0.7205 (BRP, trend line, ATR pivot, W H4, 78.6). Rejection from the zone should target 0.7150 and 0.7135. Only a close below 0.7135 will make a continuation move towards 0.7055 zone. Ideally, the price should stay below 0.7260 for bears to dominate. Have in mind that the NZD/USD is a slow-moving pair so it may take time for the price to move. NZD/USD pair is best suited to intra-week swing positioning.

NZD/USD H4 chart

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