NZD/USD H4
Right now the quotes, having bounced off the resistance at 0.5717, are continuing south and are already trading below the moving average. In this case the average acts as resistance to the north and support for the southern path. The pair is now heading towards the support at 0.5650, and after testing this support we’ll see what happens next. A break of the support with consolidation below the level will mean a continuation of the southern move. But a bounce from the support is a chance for the north to turn the situation in its favor and try to break the resistance. Consolidation above the level for a continued move north is also welcome, if anything. All the best to everyone.
