NZD/USD Technical Evaluation: New Zealand Greenback Might Be Peaking


New Zealand Greenback hits 5-month excessive however indicators of topping stay Unfavorable RSI divergence hints secondary high forming at resistanceShut beneath zero.6425 would recommend long-term downtrend resuming

To this point, New Zealand Greenback sellers have been unable to construct on early indicators of bearish reversal – a seemingly telltale Taking pictures Star candlestick on a check of dominant pattern resistance set from July 2017. But a reversal decrease should be within the playing cards, albeit after the begrudging formation of a secondary high.

A half-hearted try at a selloff quickly gave approach to directionless drift, adopted by a formidable foray to the upside. Whereas this transfer set the next excessive, it fell conspicuously wanting closing above the Taking pictures Star peak. Ominously detrimental RSI divergence now warns of ebbing upward momentum.

It is a sample that happens usually sufficient to note. A topping sequence begins with an preliminary try at peaking, which is then adopted by a nominally larger excessive that fails to verify a breakout and interprets into an antagonistic RSI sign. This state of affairs is in fact unconfirmed itself for now, however it’s believable.

Main assist is clustered within the zero.6425-96 zone, the place prior areas of congestion and pattern assist set from October’s backside meet. Breaking under that may be a really compelling indication that the long-term downtrend has resumed. Neutralizing it in earnest most likely requires a break above zero.68.

New Zealand Dollar vs US Dollar price chart - daily

NZD/USD day by day chart created utilizing TradingView


Knowledge supplied by

of purchasers are web lengthy.

of purchasers are web brief.

Change in




Each day



— Written by Ilya Spivak, Forex Strategist for

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

Clickbank Promo Tools
Wiadforex is a big online financial news, technical, fundamental analysis, trade ideas, option and educational site with a focus on Nigeria, Africa and world in general. This is an independent online forex platform. That is publish by Wiad Consultancy Services

Leave a Reply

Your email address will not be published. Required fields are marked *

Recommended Clickbank Products