NZDUSD is in a strong downtrend, with recent price action showing a sharp bearish impulse followed by a corrective retracement. The retracement appears to be stalling near a key bearish order block around 0.56650 - 0.56800, signaling potential continuation to the downside.
🔎 Analysis:
Trend: Bearish Order Block: 0.56650 - 0.56800 (Acting as Resistance) Fair Value Gap (FVG): 0.56200 - 0.56000 (Potential Target) Liquidity Pool: 0.55600 (Major Lows) 🎯 Trade Plan:
Entry: Look for bearish price action around 0.56650 - 0.56800. Target 1: 0.56200 (FVG Mitigation) Target 2: 0.55600 (Liquidity Sweep of Previous Lows) Stop Loss: Above 0.57000 (Invalidation of Bearish Structure) 🛑 Invalidation: If price breaks and closes above 0.57000, it may indicate a shift in structure, signaling possible bullish continuation.