NZDUSD MARKET ANALYSIS UPDATE

 Hello traders, I hope you all had a great weekend and you're ready for the new week in the financial markets. Into the markets today, I'm looking at my last week's pair NZDUSD where market opened the week with price rallying back to the major H1 & H4 supply zone at 0.60474 & 0.60283 during Asian session. Price filled the minor H1 range from the major H1 & H4 supply zone to the H1 & H4 low and back to the H1 & H4 major supply zone. Price rallied into supply and formed a rejection wick with candle closes below supply on H4. Took sell positions during London session at 0.60294 with SL at 0.60600. Setup taken is a rally base drop, a reversal setup and my target is at 0.59000.

Price rallied deeper into supply putting my positions in drawdown. Price rallied to 0.60400 then dropped and formed a H4 bearish engulfing candle with candle close below supply followed by a 20 pips drop to 0.60100. Price left a a rejection then rallied back deeper into supply during late NY session. Price gained more bullish momentum into Asian session forming a higher high, hitting my SL and invalidating my setup. Price formed higher highs at 0.60700 invalidating the bearish sentiment and showing a potential rally. However, I'm still waiting for more confluences for my intended bias.