NZDUSD Analysis May 10, 2020

On the weekly timeframe we are still in a downtrend. Last weeks candle closed fairly bullish and we are approaching the moving average which could give us some rejection. We are currently testing a daily resistance level and we will see how the first two days candles close before making any decisions on overall sentiment. On the H4 timeframe is where I see structure the clearest. I have my fib drawn and can clearly see we are retesting highs at the moment. We need a clean break and retest before heading higher