NZDUSD / H4 / Daily Forex Technical Analysis / 5.27.2019

Hello Traders, welcome to the Daily Forex technical analysis. Today is May 27th, 2019 and we will be taking a look at the New Zealand Dollar against the U.S. Dollar. Looking at the 4 hour time frame we can see price action is currently in bullish relief rally bouncing of the .648 region and moving above the .651 key support and resistance area, and continuing to rise to the next key resistance area near the .659 zone. We are currently waiting for the RBNZ (Reserve Bank of New Zealand) to publish its statement which could trigger an optimal short entry. Entry for a Short position near the .65908 area, with a Stop Loss near the .66190 region, and a target profit level area of .65102 to possibly ensure a profitable trade with a 2.86 to 1 R/R.