NZD/USD Trading Analysis (01/07/2024)

The trend is descending. The currency pair is traded in the range between 365 and 135 ЕМА. The ascending wave structure is truncated. There is bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator shows the overbought condition.

Trading idea:

• Sell when the formation of the downward wave structure begins, when the wave A breaches the sloping channel of the ascending truncated structure.
• Stop-loss at 0.6105.
• Price targets at 0.6077 and 0.6058.

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