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NZDUSD 5 Jan 2023

NZDUSD 5 Jan 2023 on the Daily timeframe, this pair has decreased after a trend reversal from bullish to bearish at the end of last month. Now it has successfully occupied the price position of 0.62311 and is initiating bullishness. If referring to the stochastic indicator which looks to be in the saturated zone due to oversold, it is possible that the bullish trend will continue. If the bullishness continues, then go-long can be an option for traders. But if the pair fails to continue bullish and then drops through R1, then go-short is the option. Keep an eye on the market movements and consider all possibilities before making a trading decision.

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