6 May 2014
NZD/USD keeps pressure on 0.87
FXStreet (Bali) - NZD/USD is trading at 0.8688, up 0.14% on the day, pressing against key resistance at 0.87, having posted a daily high at 0.8694 and low at 0.8676.
How strong has the move been?
NZD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish. RSI is in neutral territory at 74.17, up from it’s last hourly close at 63.88, while ADX is trending above 30 at 30.49, up from 24.18 at the last hourly close. Looking to a daily chart, we see that RSI is neutral at 58.01. The 200 SMA is currently at 0.8654, up from 0.8595 at the last period close, and climbing on the hourly NZD/USD chart. Moving with a rangebound trend, the exponential average closing price is 0.8600.
NZD/USD technicals
According to Jim Langlands, Founder at FX Charts: "The indicators are somewhat mixed but retain a generally mildly positive bias, and a break of the immediate minor Fibo resistance at 0.8690 (76.4% of 0.8745/0.8516) and then 0.8700 will target the 3 year high, seen on 4 April at 0.8745. The downside will find minor buyers at around 0.8640/50, ahead of Fridays 0.8592 low, where the 200 HMA will hold it up. A downside break below here would see a deeper decline towards the neckline support at 0.8530, which appears unlikely to be disturbed any time soon."
How strong has the move been?
NZD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish. RSI is in neutral territory at 74.17, up from it’s last hourly close at 63.88, while ADX is trending above 30 at 30.49, up from 24.18 at the last hourly close. Looking to a daily chart, we see that RSI is neutral at 58.01. The 200 SMA is currently at 0.8654, up from 0.8595 at the last period close, and climbing on the hourly NZD/USD chart. Moving with a rangebound trend, the exponential average closing price is 0.8600.
NZD/USD technicals
According to Jim Langlands, Founder at FX Charts: "The indicators are somewhat mixed but retain a generally mildly positive bias, and a break of the immediate minor Fibo resistance at 0.8690 (76.4% of 0.8745/0.8516) and then 0.8700 will target the 3 year high, seen on 4 April at 0.8745. The downside will find minor buyers at around 0.8640/50, ahead of Fridays 0.8592 low, where the 200 HMA will hold it up. A downside break below here would see a deeper decline towards the neckline support at 0.8530, which appears unlikely to be disturbed any time soon."