FX.co ★ NZD/USD

The NZD/USD pair closed trading in the price reversal zone to the downside according to my Envelopes on the four-hour and daily timeframes. At the same time, the resistance level above which the daily candle must not close is 0.5867, and the level from the four-hour timeframe, a move below which will confirm the downside, is 0.5839. Accordingly, on Monday we will either immediately confirm the downside by holding and closing below 0.5839, since the current NZD/USD price is 0.5839. Or, the maximum that buyers will be able to do, as I see it, is to show growth to 0.5867, but that will only be a good price for selling with a target of a decline to the support at 0.5745.