NZDUSD Will Fall! Sell!
Take a look at our analysis for NZDUSD.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 0.594.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 0.580 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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