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NZDUSD turns attention to 7-month low; strongly negative

From xm.com

{video} NZDUSD has been in a strong bearish rally over the last two months, reaching a fresh seven-month low of 0.6482 earlier today. What remains to be seen is if the bears have enough fuel to continue this sharp negative movement as the technical indicators are suggest the opposite. The MACD and the stochastics are ready for a bullish cross with the trigger line and within the %K and %D lines respectively in the bearish region. If the momentum oscillators prove that an upside correction is near, immediate resistance would initially come from the 0.6505 barrier and the 20-simple moving average (SMA) around 0.6510 in ... (full story)

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  • Category: Technical Analysis