Analysis from October 21 gave profit about 150 pips, I wrote: “price reached the level of 0.6700” and “if the rebound will appear next resistances are at levels 0.6780, 0.6870”. Upward movement stopped at level 0.6864 with clear candle pinbar and price falls reached to last support.
Yesterday in reaction on FED decision about interest rates first there was a strong downward movement and next dynamic rebound from support at 0.6620. In the near future it is likely the second test of this support, and if the bears will be strong enought support will be broken below and falls may reach to the level of 0.6500. However if there will be a rebound from level 0.6620 bulls may have to defeat next resistances: 0.6700, 0.6800, 0.6870.
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Wider view, time-frame D1
Last year on NZDUSD is a downtrend. Currently rebound reached to level fibo 38.2% and with strong trend price may now return to the declines. Important supports, which should stop bears are on levels: 0.6500, 0.6230. Back to the upward movement will be possible if the price gets back above the level 0.6700.
