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Add as a preferred source on Google FxWirePro: NZD/USD bias turns bearish on break below 5-DMA, good to sell rallies NZD/USD is extending downside from multi-month highs at 0.7485. Techs have turned bearish after break below 5-DMA support at 0.7383. Stochs have rolled over from overbought levels and RSI is biased lower. Positive commen…
By FxWirePro Team Sep 9, 2016, 12:37 PM UTC
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NZD/USD is extending downside from multi-month highs at 0.7485.
Techs have turned bearish after break below 5-DMA support at 0.7383.
Stochs have rolled over from overbought levels and RSI is biased lower.
Positive comments from Fed's Rosengren support USD.
Major support levels - 0.7319 (10-DMA), 0.73, 0.7293 (20-DMA), 0.7207 (50-DMA)
Major resistance levels - 0.7382 (5-DMA), 0.74, 0.7413 (session high)
Recommendation: Good to sell rallies around 0.7350, SL: 0.74, TP: 0.7320/ 0.73/ 0.7240/ 0.72
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