Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: NZD/USD tests trendline support at 0.6487, further weakness likely on break below

NZD/USD chart - Trading View 

NZD/USD pauses downside at major trendline support at 0.6488.

The pair is trading slightly higher on the day at 0.6506, up 0.28% at 07:10 GMT.

Technical indicators support further weakness in the pair. Momentum highly bearish.

RSI well below 50 and Stochs and 5-DMA are sharply lower. Bearish 5-DMA crossover on 20-DMA keeps bias lower.

'Death Cross' on daily charts to plummet the pair further. Volatility is rising.

Breach at trendline support at 0.6487 eyes lower BB at 0.6490 ahead of 0.6424 (Oct 8 lows).

5-DMA is immediate resistance at 0.6543, break above 50-DMA could see upside resumption.

Call update: Our previous call (https://www.econotimes.com/FxWirePro-NZD-USD-break-below-20-DMA-opens-up-further-downside-06485-in-sight-1549686) has almost hit targets.

Recommendation: Watch for break below trendline support for further weakness.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

2019-07-02 15:32:08
0m
2019-07-02 15:32:02
0m
2019-07-02 15:30:39
0m
2019-07-02 15:30:27
0m

July 2 15:00 UTC Released

DKCurrency Reserves

Actual

449.6 Stale

Forecast

Previous

451.7 Stale

July 2 13:45 UTC Released

USISM NY Biz Conditions

Actual

50 %

Forecast

Previous

48.6 %

January 31 00:00 UTC 765985765985m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 765985765985m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 777805777805m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 765985765985m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 777805777805m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 765985765985m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 765985765985m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 765985765985m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.