NZDUSD: Potential Downturn – Action Forex

NZDUSD, H4

NZDUSD corrected after a rebounding from the 0.5720 resistance and faced the 0.5650 support at the 38.2 Fibonacci ratio.

• The Alligator’s lips cross the jaw line, while the Momentum oscillator crosses the 100 lines downwards, giving a potential trend reversal sign.
• Consider a short trade if the price breaks below the 0.5650 support with the target at 0.5610.