Forex News from New Forex: Technical analysis of NZD/USD
In the four-hour timeframe the kiwi tests its support at 0.6818 and up to now it has been doing it quite successfully. The trend has a clear bearish sentiment with some pullbacks to the resistance at 0.6841, 0.6853 and 0.6881. However, the strongest level of resistance is still 0.6923 kiwi for the US dollar. Oscillators as well as trend indicators point to the prolongation of the bearish sentiment in the market.
In the four-hour timeframe the kiwi tests its support at 0.6818 and up to now it has been doing it quite successfully. The trend has a clear bearish sentiment with some pullbacks to the resistance at 0.6841, 0.6853 and 0.6881. However, the strongest level of resistance is still 0.6923 kiwi for the US dollar. Oscillators as well as trend indicators point to the prolongation of the bearish sentiment in the market.