{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/nzd-usd-pulls-back-as-selling-pressure-subsides-at-a-discount\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/nzd-usd-pulls-back-as-selling-pressure-subsides-at-a-discount\/","headline":"NZD\/USD Pulls back as Selling Pressure Subsides at a Discount","name":"NZD\/USD Pulls back as Selling Pressure Subsides at a Discount","description":"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 […]","datePublished":"2023-09-15","dateModified":"2023-09-15","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"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.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2023\/09\/CLgfSoGE.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2023\/09\/CLgfSoGE.png","height":738,"width":1195},"url":"https:\/\/forexschoolonline.com\/nzd-usd-pulls-back-as-selling-pressure-subsides-at-a-discount\/","about":["Forex Trading Tools","FX Technical Analysis","NZD\/USD","NZDUSD","Price Action Charts in Focus","Trade Idea","Trade Setups"],"wordCount":315,"keywords":["Daily Chart","Market Anticipation","Market Expectation","Market Prospect","NZD","NZD\/USD","NZDUSD","Price Action","Price Analysis","Price Chart","Technical Analysis","USD"],"articleBody":"NZDUSD Analysis: Market Begins Pullback As Selling Momentum Fades Out At DiscountNZDUSD 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 ZonesDemand Zones: $0.58140, $0.55120Supply Zones: $0.59850, $0.65380The 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.Market ExpectationOn 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:\u00a0Forexschoolonline.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."}