08, June 2016

NZD/USD (a 4-hour chart)

NZD/USD (a 4-hour chart)

General overview

Due to the lack of news from New Zealand, the pair traded under the influence of the statistics received from the United States. The New Zealand dollar showed a growth, the pair NZD / USD rose against the weakening of the USA dollar.

Current situation

Buyers pushed the pair upwards on Tuesday. The pair broke the resistance 0.6950 and set a local high at 0.6978. The overall outlook remained bullish. The resistance comes at 0.7050, the support is at 0.6950.

MACD is in a positive area. The histogram is below the signal line. MACD kept growing. RSI reached the overbought level of 70.

Trading recommendations

If the pair manages a break below 0.6950 and stays there we would likely be selling the pair.
NZD/USD can decrease to 0.6850.