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NZDUSD struggles beneath 4-month peak
NZDUSD reached overbought levels according to the RSI and found strong resistance just after touching a four-month high of 0.6580. Also, the MACD is holding above its red trigger line, which supports the bullish view, while the 20-day simple moving average (SMA) keeps increasing its distance above the 40-day SMA, suggesting that the recent upward move is likely to stay in place for now. In case the pair maintains its upward trajectory, the bulls could challenge the next resistance at 0.6665, taken from the minor peak on January 16, before hitting the December’s high of 0.6750. Alternatively, a downside correction ... (full story)
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