Kind of technical, price fall after nearly reaching 60 MA, but fall with global risk-off sentiment on Wednesday, NZDUSD fall further below both 10 and 20 MA, showing more weak momentum, thus sell NZDUSD. The technical indicator is not that perfect since that only daily MACD histogram is negative sloping in the positive above zero, but weekly MACD histogram remains below zero with positive slope. Thus the trade would do with relative small position and will do short term. The risk would be upward trend line support.
Comment:
The story has changed as Trump announced guideline for the US to reopen the economy. Risk-on sentiment back as the stock market surge. Technically NZDUSD did not fall below the raising support trend line and then back to gain. The range-bound may continue.