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NZD/USD Falling After Being Overbought

Short
New Zealand Dollar / U.S. Dollar (OANDA:NZDUSD)  
FieryTrading  
OANDA:NZDUSD   New Zealand Dollar / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators NZDUSD trend reversal Relative Strength Index (RSI) Bearish Patterns signal
4
0
trendanalysis chartpattern indicator nzdusd trend reversal relativestrengthindex bearish signal
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.
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