NZDUSD Daily S/R| Technical Divergence| 200 DMA| Bearish PA

Evening Traders,

Secondary analysis – NZDUSD – respecting daily S/R with a range deviation, price is likely to test lower levels.

Points to consider,
- Bearish price action
- Daily S/R resistance
- 200 DMA support
- RSI bearish divergence

NZDUSD is likely to respect range high due to its recent bearish price action. Breaking impulsively back into range indicates weakness in the market.

The Daily S/R is considered a bearish retest level, rallies or to be shorted until proven otherwise.

The 200 DMA is in confluence with the lower daily S/R, price is likely to come for a test of this level, (range low).

RSI has a valid bearish divergence, this shows further weakness in the market as price continues to rise in a bearish manner.

Hope this analysis helps!

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