FX:NZDUSD   New Zealand Dollar / U.S. Dollar

On the 1H timeframe there is a short term buy opportunity as we retest the previous Higher Lows to create a W formation.

The circled Green candle is the one does not fit with the previous trend that is why this makes me think this will be a resistance level.


On the 4H we see clear divergence forming on the RSI.


The overall trend is Down that is why we will wait for this retest of previous Suppoort now being Resistance to get retested and rejected before entering a Sell.


Although, nothing can stop us from taking this Buy and making a 2R

Tell me your thoughts!

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