NZDUSD: The Overbought Market and The Main Target for Bears

The market moves upward in the borders of the ascending price channel. The price reached the upper line of the channel, and it means that we can see a price reversal and a correction movement in the bullish structure.

RSI is in the oversold zone. We will be able to get a solid reversal signal. MACD histogram is going to confirm the reversal and a possible downward movement.

The main target for sellers is the zone between 0.65000 and the uptrend line. At the same time, we must be ready to see a breakout above the price channel and further upward movement to 0.66850 resistance.