Technical Analysis

NZD/USD Technical Evaluation: A High in Place Above zero.68 Determine?

NZD/USD Technical Technique: BEARISH

NZ Greenbackbounce stalls above zero.68, RSI hints upside momentum ebbing

4-hour chart reveals break of January’s counter-trend help line

Sellers might initially goal zero.6767 however deeper losses may properly comply with

See our free buying and selling information to assist construct confidence in your NZD/USD buying and selling technique!

The New Zealand Greenback is struggling to proceed pushing upward towards its US counterpart after establishing a tenuous foothold above the zero.68 determine. Certainly, the looks of adverse RSI divergence now means that ebbing upside momentum might precede a reversal downward.

New Zealand Dollar vs US Dollar chart - daily

Shorter-term positioning bolsters the case for a bearish situation. The four-hour chart exhibits costs have damaged rising development help guiding them increased because the starting of the yr following a retest of former resistance. This hints that current positive aspects had been corrective within the context of the broader drop from early December.

NZD/USD Technical Analysis: A Top in Place Above 0.68 Figure?

An preliminary transfer decrease from right here might even see sellers eyeing a possible goal at zero.6767. If true downtrend resumption is on the menu nevertheless, that modest pullback will precede far deeper losses. A each day shut above the January 15 excessive at zero.6849 would go a good distance towards invalidating the setup.

NZD/USD TRADING RESOURCES:

— Written by Ilya Spivak, Foreign money Strategist for DailyFX.com

To contact Ilya, use the Comments part beneath or @IlyaSpivak on Twitter


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