NZD/USD is preparing for a correction

The NZD/USD pair after a weekly decline remains significantly oversold.

Given the pair’s oversold, psychological support test 0.6600 and the ever-increasing upward divergence, there is a high probability of a reversal and upward correction. Formations of upward dynamics can be expected at the break through of the zone 0.6620-30, which will open the way to resistance levels: 0.6670 and 0.6700. Support is located at the levels of: 0.6600 and 0.6580, breaking through which cancels expectations for a turn.

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Hanzenko Anton

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