NZDUSD MARKET ANALYSIS

Good morning traders, its another week in the month of July (after my birthday week) that's filled with opportunities in the financial markets and I hope you're all ready to tackle them. Into the markets today, I'm looking at NZDUSD where price rallied into a key H1 & H4 supply zone at 0.62394 & 0.61897 which is the origin of the previous drop to the H4 demand zone at 0.60350 & 0.59897. Price filled the H1 & H4 range from the key H1 & H4 supply zone to the H4 demand zone and back to the key H1 & H4 supply zone. Price dropped 45 pips to 0.61730 with candle closes below supply on H1 & H4. Price retraced to retest supply before a continuation of the drop lower. Price failed to break below 0.61700 and instead rallied strongly back into supply. Price rallied deeper into the H1 & H4 supply zone and failed to break the H1 & H4 high inside supply at 0.62200. Price formed a H4 hammer followed by a H4 bearish engulfing candle. Took sell positions during London session at 0.62047 with SL at 0.62380. Setup taken is a rally base drop, a reversal setup and my target is at 0.60700.