Divergence in NZD/USD price action seen, target 0.66 levels

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
282 0 11
Technicals indicated downside for the pair:

- We see divergence between price action and momentum indicators - (Stochastics and RSI making lower lows)
- Stochs have rolled over from overbought levels with a bearish crossover
- RSI is biased lower

Kiwi unable to extend gains beyond 0.6819 and is extending downside for the third consecutive session.

Renewed bout of risk-aversion hit markets after the PBOC slightly devalued yuan today after three back-to-back sessions of gains.

Chinese CPI             figures and the RBNZ policy decision due later this week will have a major impact on the pair.

Supports on the downside are aligned at 0.6713 (Mar 4th lows), 0.6700, 0.6630 (rising trendline ).

On the upside resistances are seen at 0.6750 (session highs), 0.6756 (Mar 3rd high), 0.6775 (Feb 26th high).

Good to sell rallies around 0.6730/40, SL: 0.6820, TP: 0.67/0.6655/0.66
Trade active: Unexpected RBNZ rate cut weighed heavily on the Kiwi, sell-off pushed NZD/USD to fresh one week lows at 0.6619.

We see no respite from bears for now, downside likely to extend.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out