• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

ForexSchoolOnline.com

Learn to Trade Forex Online

  • Compare Brokers
    • Broker Type
      • Paypal Brokers
      • Swap-Free Brokers
      • Low Spread Brokers
      • ECN / STP Brokers
      • Market Maker Brokers
      • Non Dealing Desk Brokers
      • Low Minimum Deposit Brokers
    • Country
      • Brokers for Australia
      • Brokers for South Africa
      • Brokers for the UK
      • Brokers for the US
      • Brokers for Nigeria
    • Regulation
      • FCA Regulated Brokers
      • ASIC Regulated Brokers
      • FSCA Regulated Brokers
      • CFTC Regulated Brokers
    • Platform
      • MT4 Brokers
      • MT5 Forex Brokers
    • Strategies
      • Hedging Forex Brokers
      • Scalping Forex Brokers
      • Carry Trade Forex Brokers
      • Brokers for Indicators and EA’s
  • Start Here
    • Start Trading Guide
    • Beginner Trading Lessons
  • Free Forex Course
    • Public Login
    • Register
    • Password recovery
  • Lessons
    • Strategies
    • Videos
    • MT4 Guides
    • Money Management
  • Trade Setups
  • Tools
    • Correct Free Demo Charts
    • Forex Journal Download
    • Position Size Calculator
    • FULL List of Tools
    • Forex Demo Accounts
  • Price Action Guide
  • Free Course

NZD/USD Pulls back as Selling Pressure Subsides at a Discount

Johnathon Fox
09/15/2023 | UPDATED ON: 09/15/2023

NZDUSD Analysis: Market Begins Pullback As Selling Momentum Fades Out At Discount

NZDUSD pulls back as selling momentum dives into the discount zone. The buy-side liquidity sweep above $0.63850 preceded this crash. As indicated by the MA Cross, the direction of the market is bearish. However, a pullback to the upside is likely since the price has become oversold according to the RSI (Relative Strength Index).

NZDUSD Significant Zones
Demand Zones: $0.58140, $0.55120
Supply Zones: $0.59850, $0.65380

NZDUSD Begins Pullback As Selling Momentum Fades Out At Discount

The formation of the major high at $0.65380 marked the beginning of the overall downward trend. Following an aggressive decline as a result of the selling pressure met at the premium, NZDUSD formed lower lows. The downtrend in fractals ended on March 7, 2023, after which a pullback ensued. The pullback brought the price back into the premium zone as it formed a swing high at $0.63850. According to the RSI indicator, the market did not enter an overbought state until the $0.63850 level was breached.

NZDUSD declined aggressively from the $0.63850 high into the $0.59850 demand zone. The buying pressure brought the price algorithmically from the $0.59850 demand zone to the upside during another pullback. After the buy-side liquidity sweep, the market’s overall trend resumed. The downtrend continued with increased momentum as prices crashed into the discount zone. According to the RSI indicator, until recently, NZDUSD had not reached the oversold state in the past six months. At the discount zone, NZDUSD is currently experiencing a decrease in selling momentum as it shows signs of bullish expansion.

NZDUSD Begins Pullback As Selling Momentum Fades Out At Discount

Market Expectation

On the four-hour chart, the RSI forms higher lows against the price’s lower low. The divergence in the lows of the RSI indicator and the price chart indicates that NZDUSD is likely to experience an upward trend.

Note: Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Recommended Broker

  • Broker
  • Min Deposit
  • Benefits
  • Score
  • Visit Broker

$200

T&Cs Apply
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
5
Trade Now FreeBets Reviews
Reviews

About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

View all posts by Johnathon Fox →
Previous Post: « Dash 2 Trade (D2TUSD) Shows Promising Signs Amidst Recent Price Consolidation
Next Post: GBPJPY Consolidates at a Premium as Bullish Sentiment Prevails »

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Forex School Online

High Probability Price Action Trading

How to make, manage and take profit from trades in the markets

Start Learning (It's Free!)

Turn Your Trades into Winners!

The Price action course is the in-depth advanced training on assessing, making and managing high probability price action trades.

Sign up for Free!

Recommended Broker

  • Broker
  • Min Deposit
  • Benefits
  • Score
  • Visit Broker

$200

T&Cs Apply
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
5
Trade Now FreeBets Reviews
Reviews

Footer

Get Our FREE Course, Bonus Strategies & Indicators!
X
Join Us Now!

Your capital is at risk.

X

CORNERSTONE LESSONS

Forex Trading for Beginners

Price Action Trading

How to Trade Forex

Technical Analysis

Forex Charts

Forex Trading Strategies

Money Management 

Compare Brokers

Best Forex Brokers

Forex Demo Accounts

Best Forex Trading Platforms

Forex Apps

Swap Fee Accounts

MT4 Brokers

CATEGORIES

Forex Videos

Trading Lessons

Weekly Trade Ideas

Start Here Guide

ForexSchoolOnline.com helps individual traders learn how to trade the Forex market

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature so you must consider the information in light of your objectives, financial situation and needs.

Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. This website is free for you to use but we may receive a commission from the companies we feature on this site.

We Introduce people to the world of currency trading. and provide educational content to help them learn how to become profitable traders. we're also a community of traders that support each other on our daily trading journey

Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Copyright © Forex School Online Sitemap  - Privacy Policy - Disclaimers & Terms of Use - CONTACT US