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NZDJPY declined sharply as the New Zealand dollar lost momentum after the RBNZ rate hike. If the 93.60 resistance holds, the downtrend appears to be trending toward favorability.
|
Technicals |
CMP -92.07 |
Trend |
|
|
4-hour chart |
Value |
|
|
|
55 EMA |
94.15 |
CMP<value |
Bearish |
|
200- EMA |
94.02 |
CMP <value |
Bearish |
|
365- EMA |
93.72 |
CMP<value |
Bullish |
|
93.06 |
CMP>Value |
Bullish |
Near-term resistance - 92.50/93.20/93.80/94.40//95.50/96.25/97. Near-term support- 92.60/92/ 91/90.50/89.
|
Momentum indicator |
Inference |
Value |
|
CCI(50) |
Bearish |
-280.63 |
|
ADX |
Bearish |
Strength increased from 15.41 to 34 |
It is good to sell on rallies around 92.48-50 with an SL around 93.20, for a TP of 90.
