FxWirePro: NZD/USD hovers around 200-DMA, good to go short on close below
NZD/USD is hovering around 200-DMA at 0.7024, close below will confirm further downside. Momentum studies are bearish, Stochs are at extreme oversold levels, while RSI weak at 34. Major moving averages are biased lower a…
NZD/USD is hovering around 200-DMA at 0.7024, close below will confirm further downside.
Momentum studies are bearish, Stochs are at extreme oversold levels, while RSI weak at 34.
Major moving averages are biased lower and price action is well below daily cloud.
Major support levels - 0.6974 (July 22 low), 0.6936 (161% Fib retrace), 0.69
Major resistance levels - 0.7024 (200-DMA), 0.7064 (5-DMA), 0.71
Recommendation: Good to go short on close below 200-DMA at 0.7024, SL: 0.7065, TP: 0.6975/ 0.6936/ 0.69
FxWirePro's Hourly NZD Spot Index was at -24.3333 (Neutral), while Hourly USD Spot Index was at 43.8576 (Neutral) at 0440 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
