FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch (EURUSD and AUDUSD) for the day)
FxWirePro: NZD/USD shows signs of exhaustion at lows, major trend still bearish
Chart - Courtesy Trading View
NZD/USD was trading 0.16% lower on the day at 0.5616 at around 12:00 GMT.
The pair has formed a spinning top on the daily candle at the time of writing.
Oversold oscillators keep scope for some bullish rollover into neutral territory.
GMMA indicator shows major and minor trend are bearish. Major moving averages are biased lower.
Hawkish comments by Fed officials overnight reaffirm the prospects for a more aggressive policy tightening, supporting the US dollar.
World Bank’s (WB) downbeat economic forecasts for China and chatters that Chinese authorities called key market players to defend the equities tested market mood.
Markets look forward to speech from Fed Chairman Jerome Powell. Hopes of hawkish Powell keep USD buoyed.