FxWirePro Currency Strength Index for NZD/USD: Bias Bearish
FxWirePro's Hourly NZD Spot Index was at -121.812 (Bearish)
FxWirePro's Hourly USD Spot Index was at 114.673 (Bullish)
Technical Analysis: Bias Bearish
- Breaks below daily cloud
- Breach at 'Triangle Base' support
- RSI below 50, bias lower, Stochs sharply lower
- -ve DMI crossover on +ve DMI
- MACD shows bearish crossover on signal line
Fundamental Factors:
- Greenback bid across the board as the UST yields hit fresh highs.
- Easing global trade war concerns combined with ongoing peace talks on the Korean peninsula continues to support USD.
Support levels - 0.72, 0.7185 (200-DMA), 0.7153 (March 21 low)
Resistance levels - 0.7261 (61.8% Fib), 0.7291 (20-DMA), 0.73
Recommendation: Good to go short on rallies around 0.7220/30, SL: 0.7265, TP: 0.7185/ 0.7155/ 0.71
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest.
