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FxWirePro: NZD/USD Trade Idea

Tuesday, November 27, 2018 5:36 AM UTC

NZD/USD chart on Trading View used for analysis

FxWirePro Currency Strength Index for NZD/USD: Bias Bearish
FxWirePro's Hourly NZD Spot Index was at -94.8295 (Bearish)
FxWirePro's Hourly USD Spot Index was at 68.5183 (Neutral)

Technical Analysis: Bias Bearish
- Upside rejected at 200-DMA
- Price action slips below 5-DMA and 23.6% Fib
- Stochs and RSI biased lower
- MACD shows bearish crossover
- Bearish divergence on Stochs

Support levels - 0.6718 (110-EMA), 0.6708 (38.2% Fib)
Resistance levels - 0.6794 (5-DMA), 0.6871 (200-DMA)

Recommendation: Good to go short on upticks, SL: 0.6820, TP: 0.6720/ 0.67

For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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FxWirePro: NZD/USD Trade Idea

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