The NZD/USD has formed a super-dot at the 9 % support indicating a possible counter-trend move.

NZDUSD

 

The price is supported just above W L3 which is in confluence with 9 % fib. We can also see the consolidation above the support and a super-dot. Super-Dot indicates that the market is oversold and the price might move on to 0.6520 and 0.6552. If we see a close below 0.6400, the counter trend will be negated.

NZDUSD

 


 

The analysis has been done with the CAMMACD.MTF template.

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