07, June 2016

NZD/USD (a 4-hour chart)

NZD/USD (a 4-hour chart)

General overview

According to Janet Yellen the price of oil keeps the inflation at low levels. Oil prices began to grow.

Current situation

The pair NZD/USD spent the first day of the week near the level of 0.6950. The dollar could reverse some losses and reached the mark 0.6900. However buyers stopped the price and returned it to the resistance of 0.6950. The resistance is at 0.6950, the support area lies at 0.6900.

The MACD indicator is in a positive area its signal line is in a histogram. The indicator is giving a buy signal. RSI reached the overbought level of 70.

Trading recommendations

The pair will return to the downward movement. The pair may go to 0.6850 soon.