1. The trend is bearish
2. Stochastic is almost overbought
3. The 100 SMA is providing resistance
4. A resistance levels stands above
NZD/USD turned bearish yesterday as the USD bulls charged ahead against all major currencies. Today, the bearish move extended further below but in the last few hours this pair started retracing higher. The stochastic indicator is almost overbought now so the retrace higher should be over soon. Besides that, we have a resistance level standing above the current price. That level comes at around 0.7885 and it has provided resistance earlier this week.
2. Stochastic is almost overbought
3. The 100 SMA is providing resistance
4. A resistance levels stands above
NZD/USD turned bearish yesterday as the USD bulls charged ahead against all major currencies. Today, the bearish move extended further below but in the last few hours this pair started retracing higher. The stochastic indicator is almost overbought now so the retrace higher should be over soon. Besides that, we have a resistance level standing above the current price. That level comes at around 0.7885 and it has provided resistance earlier this week.