{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/nzdusd-encounters-a-pause-at-the-0-62170-supply-zone\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/nzdusd-encounters-a-pause-at-the-0-62170-supply-zone\/","headline":"NZDUSD Encounters a Pause at the 0.62170 Supply Zone","name":"NZDUSD Encounters a Pause at the 0.62170 Supply Zone","description":"Market Analysis: Price Experiences a Bearish Pullback NZDUSD Price experienced a notable bullish trend at 0.58760, has seen as it swiftly ascent towards the 0.62170 supply zone. This level has proven to be a formidable barrier, curtailing the upward trajectory of the price, despite the daily Moving Average presenting a bullish outlook. NZDUSD Significant Zones […]","datePublished":"2024-06-13","dateModified":"2024-06-13","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\/2024\/06\/eS1MMiQ1.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2024\/06\/eS1MMiQ1.png","height":613,"width":1195},"url":"https:\/\/forexschoolonline.com\/nzdusd-encounters-a-pause-at-the-0-62170-supply-zone\/","about":["Article","charts","Forex","Forex Strategies","Forex Trading Tools","FX Technical Analysis","NZD\/USD","NZDUSD","Price Action Charts in Focus","Price Action Trigger Signals","Support & Resistance","Technical Analysis","Trade Idea","Trading","Trading Mindset & Psychology","Trading strategy"],"wordCount":267,"keywords":["Daily Chart","Forex","forex price action","FX Technical Analysis","Market Anticipation","Market Expectation","Market Prospect","NZDUSD","Price Action","Price Chart","Technical Analysis"],"articleBody":"Market Analysis: Price Experiences a Bearish PullbackNZDUSD Price experienced a notable bullish trend at 0.58760, has seen as it swiftly ascent towards the 0.62170 supply zone. This level has proven to be a formidable barrier, curtailing the upward trajectory of the price, despite the daily Moving Average presenting a bullish outlook.NZDUSD Significant ZonesResistance Levels: 0.62170, 0.63670Support Levels: 0.60380, 0.58760An examination of the daily Relative Strength Index (RSI) reveals that NZDUSD price is hovering around the 70.0 threshold. This proximity to the overbought territory brings forth the anticipation of a bearish reversal. However, the expected bearish price action is not indicative of a trend reversal but rather a retracement towards an untouched daily bullish order block, suggesting that the bearish movement could be a temporary pullback within an overall bullish context.Expanding our analysis to the 4-hour timeframe, a continuation of the bullish sentiment is witnessed, as the RSI climbs towards overbought levels. This suggests that the short-term bullish trend may persist. Nonetheless, the emergence of a 4-hour order block is expected to act as a catalyst for a trend reversal, precipitating a decline in price as it seeks the daily bullish order block.Market ExpectationWhile short-term price action suggests bullish conditions, a potential bearish shift is expected as the price is projected to trigger the daily bullish order block. The bullish order block now serves as a support for the price as it resumes its initial bullish trend.Note:\u00a0Forexschoolonline.com\u00a0is not a financial advisor. Research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results."}