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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.