NZDUSD’s fresh upward pivot from 0.6510 has been dismissed by the mid-Bollinger band at 0.6574, which has reset the negative direction, with the price now tackling the 0.6539 barrier. The diving 50- and 100-period simple moving averages’ (SMAs) negative demeanour and their forthcoming bearish overlaps of the 200-period SMA, may further aid a weakening bias. The short-term oscillators back a deteriorating picture. The MACD, far below zero, although above its red signal line appears to be waning, while the dipping RSI points towards the 30 mark. Moreover, the stochastics %K line has rebounded off the 80-level and under ... (full story)