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EURNZD loses further ground as bearish bias endures
EURNZD is currently encountering some upside pressure at the 1.7000 barrier, following the one-and-a-half month decline from the peak of 1.7698. Nevertheless, bearish signals indicate that the downfall may have some ways to go. The short-term oscillators suggest that negative momentum is strengthening. The MACD, in the negative zone is declining below its red trigger line, while the RSI has slipped into the oversold territory. Moreover, the ADX reflects a strong negative trend in place, as do the downward sloping simple moving averages (SMAs). Additionally, the pair is trading way below the Ichimoku cloud and the ... (full story)