NZDUSD potential reversal opportunity
RSI is showing a bullish divergence and has made a technical uptrend. The RSI divergence is telling us the US dollar is weakening on this pair and the Kiwi is strengthening. Could this be institutions rebalancing their portfolios in anticipation of a new Kiwi uptrend?
I would wait for a pullback to a fib level in order to get a good price then enter long.
Exit when the uptrend looks like to be weakening.
Potential risk reward is excellent.
I would wait for a pullback to a fib level in order to get a good price then enter long.
Exit when the uptrend looks like to be weakening.
Potential risk reward is excellent.