NZDUSD’s negative momentum gains new confidence

From xm.com

NZDUSD is presently tackling the 0.5841 level, that being the 38.2% Fibonacci retracement of the down leg from 0.6447 to an 11-year low of 0.5468, after new-found negative sentiment sent the pair back into the Ichimoku cloud. Aiding this move down is the recent bearish crossover of the now declining Ichimoku lines. The short-term oscillators are providing extra backing towards a negative picture. The MACD has slipped below its zero and trigger lines, while the RSI is falling in the bearish zone. Moreover, the stochastic lines are shifting slowly into oversold territory. That said, the recent bullish overlap of the ... (full story)