The NZDUSD has corrected sharply as visible in this H4 chart and currently trades around its support zone. The reason for the recent collapse was comments by the New Zealand Central Bank which would like to see a weaker Kiwi. We believe the correction was overdone and due for a bounce back into resistance. MACD has bottomed out at roughly the same level as its previous decline to this level and formed a double bottom. RSI is trading in oversold territory and a breakout from this level should add to the rally back to resistance...
The NZDUSD has rallied from its temporary support level and ran into resistance as visible in this H1 chart. The last half dozen candlestick patterns have tried to form a top at resistance levels which is a bearish sign. We believe this pair will correct down to its 50 DMA before potentially attempting a rally into its 200 DMA. MACD has turned bullish during the rally which may hint at further upside after a correction. We believe the correction will leave the MACD in bullish territory. RSI has been trading in overbought...
The NZDUSD has rallied over the past few trading sessions and formed a bullish price channel as visible in this H1 chart. Price action has run into its ascending resistance level and the most recent candlestick has formed a spinning top at resistance. We believe this currency pair will correct down to its ascending support level.MACD has not confirmed the bullish chart patterns and formed a negative divergence. We may witness a bearish centerline crossover over the next few trading days. RSI has formed a very narrow negative...
The NZDUSD has rallied from strong support levels as visible in this D1 chart. This currency pair has now ran into quadruple resistance which is made-up of its 50 DMA, 200 DMA, strong horizontal resistance as well as descending resistance from its previous high. Price action indicates that this currency pair is forming a top as the last two daily candlestick patterns formed a star as well as inverted hammer and we expect it to correct back to support levels. MACD completed a bullish center crossover which we expect to reverse...
Should price action for the NZDUSD remain inside the 0.8150 to 0.8200 zone the following trade set-up is recommended: Timeframe: H4 ...
