Technical analysis of NZD/USD 05/30/2019

Quotes of NZD/USD currency pair continue to move within the descending channel on the 4H timeframe. The price tested the upper limit of the channel, which coincides with the MA100 and found resistance at 0.6557.  At this point, we can expect a continuation of the quotes decline to 0.6420.

In favor of decline of the pair NZD/USD will be the data of the RSI indicator, as well as the direction of the MA100 and MA200, coinciding in parallel with the lines of the downward channel.

Cancellation of the fall of the pair will be a strong growth and the breakdown level of 0.6600. This will indicate a breakdown of the upper boundary of the channel, MA100 and MA200, which may mean a change in trend.


Created by Joshua Hayn

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