NZD/USD Price Analysis: Kiwi stops just shy of 0.67
- NZD/USD has once again had a good session rising 0.31%.
- This could mark the fourth positive session in a row.
NZD/USD daily chart
NZD/USD has been performing very well on the week trading 1,64% higher. The price broke above the black resistance line at 0.660 and looks set to hit the red resistance line at 0.6756. It seems hard to believe the currency is this high after the RBNZ has made a few references to negative interest rates in the past few months. The greenback selling has been relentless but AUD/NZD is also bullishness so AUD is the best performing antipodean currency.
Looking at the chart below, now the price has broken the black resistance line it could be used as support if the price does retrace. Now the next target for the bulls is the red zone at 0.6741. On the downside, the bears will need to watch the blue trendline support. Before that, the price could also move toward the purple support level just below 0.64.
The indicators are looking bullish at the moment. The MACD histogram had just turned green and the signal lines are above the mid-zone. The Relative Strength Index is also heading toward the positive overbought area.
Additional levels
Reprinted from FXStreet，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.