TechnoMeter

D1 price is on primary bearish market condition with the local uptrend as the bear market rally: price broke 100 day SMA from below to above and it is located to be between 100 day SMA and 200 day SMA for the ranging condition wiaitng for direction:

• The price is trying to break 0.6835 resistance and 0.6896 resistance levels for the bullish reversal.
• Key support level for the bearish trend to be continuing without raning is 0.6463 level.
• RSI indicator is estomating the local uptrend as the secondary market rally to be continuing with good possibility to the reversal of the price movement from the primary bearish to the primary bullish market condition.
• "Near-term support is at 0.6777, the 23.6% Fibonacci expansion, with a break below that on a daily closing basis opening the door for a test of the 38.2% Fib retracement at 0.6680. Alternatively, a push above the 0.6836-47 area marked by the 38.2% expansion and the aforementioned trend line paves the way for a challenge of the 0.6884-97 zone (50% expansion, October 15 high)."
• "We are keen to enter short NZD/USD in line with the longer-term down trend. However, the absence of a discrete reversal signal warns that pulling the trigger may be premature for now. With that in mind, we will remain on the sidelines for the time being and wait for greater clarity to emerge."

If the price will break 0.6463 support level on close D1 bar so the primary bearish will be continuing without ranging.
If the price will break 0.6896 resistance level so we may see the reversal of the price movement from primary bearish to the primary bullish market condition.
If not so the price will be ranging within the levels.

Resistance	Support
0.6835	0.6680
0.6896	0.6463

Trend: bear market rally


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