NZDUSD Analysis

in forex •  6 years ago 

New Zealand dollar against the US dollar: may fall back to near 0.6499;

1)From the daily chart, the exchange rate lost the middle track support of the Bollinger line overnight, MACD has signs of forming a dead fork, KDJ dead fork is running well, and the short-term exchange rate is biased downward. The initial support is near the low of 0.06559 on September 18, and the support at the low point of September 17 is around 0.6536. If it falls below this position, it may re-test the support near the low of 0.6499. The lower rail support of the Bollinger Band is also Near the location;

  1. The upper Bollinger Band 0.6602 has been converted into the initial resistance. Before the position is recovered, the market is biased downwards; if the position is accidentally recovered, the short-term bearish signal is weakened; further resistance is at the September 28 high. Near 0.6638

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