Sydney Tokyo London New York
real time forex news and technical analysis

NZDUSD technical analysis

NZDUSD Tech analysis by Simon Kazinsky on 09:25 July 19, 2016 EST



The kiwi is still in a mid/long term decline. NZDUSD has been staging a temporary recovery since September last year when it set a medium term low at 0.62.

The pair has reacted as it found a relevant Moving Average that previously acted as support and now has turned resistance. Last week left a significant red candle in a clear short term price action reversal in the chart and the short term continues this week. It therefore appears the recovery may have come to an end. A break below 0.68 where short term support lies will add confidence to this outlook.

The technical analysis for AUDUSD appears to point to further USD strength versus commodity related currencies.





Comments



[x]