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NZDUSD’s ascent pauses but confidence remains intact
NZDUSD is sustaining its bullish demeanour despite sentiment slowing to a degree, after reaching a 29-month high of 0.7004. The Ichimoku lines are preserving the pair’s positive bearing, while the rising simple moving averages (SMAs) are defending the bullish structure. The short-term oscillators reflect some waning in positive momentum. The MACD, some distance north of the zero line, is flattening above its rising red trigger line, while the RSI, merely above the 70 mark, is pointing southwards. Moreover, the stochastic oscillator has turned bearish, promoting a retracement in the price. Continuing to climb, the ... (full story)