FxWirePro Currency Strength Index for NZD/USD: Bias Bearish
FxWirePro's Hourly NZD Spot Index was at -44.8553 (Neutral)
FxWirePro's Hourly USD Spot Index was at 136.391 (Bullish)
Technical Analysis: Bias Bearish
- Multiple rejection at 1H 200-SMA
- Hourly cloud caps upside
- Momentum studies are bearish, Stochs and RSI sharply lower
- -ve DMI crossover on hourly chart
- On the daily charts, 5-DMA has turned, upside capped at 21-EMA
Support levels - 0.67, 0.6687 (July 3 low), 0.6650 (trendline), 0.66
Resistance levels - 0.6790 (1H 200-SMA), 0.6796 (5-DMA), 0.6830 (21-EMA)
Recommendation: Good to go short on upticks around 0.6770/80, SL: 0.6830, TP: 0.67/ 0.6650
For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
