- The NZD/USD upside appears to be restricted as trading forces battle for supremacy.
- The RSI recommends a neutral outlook, while the MACD suggests decreasing offering pressure.
- A crossover in between the 100 and 200-day SMA may move the set upwards.
The NZD/USD traded mainly flat on Friday’s session and stopped working to hold gain which took it to a high around 0.6260 as it then pulled away to 0.6240.
The Relative Strength Index (RSI) is at 61, in favorable area with a flat slope. This suggests a neutral outlook for the set, as purchasing pressure is flat. The Moving Average Convergence Divergence (MACD) pie chart is red and reducing, recommending that offering pressure is decreasing.
NZD/USD everyday chart
Secret assistance levels consist of 0.6150, 0.6120, and 0.6100, while resistance levels are 0.6190, 0.6200, and 0.6230. A close above the 20-day SMA, presently at 0.6200, might signify more upward motion with the next target being at early September highs near 0.6300. In addition, traders ought to keep track of the 0.6100 location as the 100 and 200-day SMAs will carry out a bullish crossover. That might act as a bullish verification and may activate another upwards leg.
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