31, October 2016

NZD/USD (a 4-hour chart)

General overview

The kiwi is neutral ahead survey of inflation expectations which will be published this Wednesday.

Current situation

The NZD/USD remained near last week lows on Monday. The pair spent the day above the 0.7120 level. The moving averages are neutral in the 1 hour chart. The currency pair stayed above the 200-EMA which provided a solid support for the price. The resistance is at 0.7200, the support can be found at 0.7120.

MACD remained at the same level which confirms the strength of sellers. RSI remained within neutral area.

Trading recommendations

If the bearish scenario prevails we will be selling the pair if the price drops below 0.7050.