-
NZDUSD erases yesterday’s rally; could weaken further
video NZDUSD is continuing the selling interest despite the bounce off the 0.6156 support level in the preceding session. The price holds near the lower boundary of the Ichimoku cloud, while the 20- and 40-day simple moving averages (SMAs) are pointing downwards. The MACD oscillator is heading south as well, holding in the negative region. However, the stochastic oscillator posted a bullish crossover in the oversold area, suggesting the end of the bearish move. Should the pair stretch south, Tuesday’s low of 0.6156 could provide immediate support before the pair touches the 26-month low of 0.6060. A significant ... (full story)