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NZD/USD holds key resistance at 0.7605/25, bulls on edge

Source: Thomson Reuters NZD/USD overnight rally stalls at 55_DMA & pair holds key resistance at 0.7605/25 Pair now down on the day, RSI diverges & gravestone doji forms, recent bulls may exit soon Close below 10-DMA & Tr…

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NZD/USD holds key resistance at 0.7605/25, bulls on edge
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Source: Thomson Reuters


  • NZD/USD overnight rally stalls at 55_DMA & pair holds key resistance at 0.7605/25 

  • Pair now down on the day, RSI diverges & gravestone doji forms, recent bulls may exit soon

  • Close below 10-DMA & TrendLine off Feb low will encourage bears

  • Below -0.7410/20 eyes 2015 low retest 

  • Still some upside risk as month-end models suggest big USD selling due

  • If resistance not cleared, short-term bulls likely exit & long-term bear trend may resume

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