Strong resistance for NZD/USD at 0.69, good to sell rallies
NZD follows AUD lower, NZD/USD upside faltered at 0.6883, pair now pressing 0.6850 around 0.3% down intraday.
200-DMA at 0.6846 is immediate support, holding downside for now, low thus far 0.6847, breach below 200-DMA eyes 0.6825 area 28 Dec lows.
0.6897 (Oct 15 highs) is strong resistance on the upside ahead of 0.6890 (rising trendline)
An added element of profit taking seen into year-end after kiwi's 4.5% Dec rally, another negative for the pair.
Techs on 4-hourlies point further downside:
-Stochs have rolled over from overbought zone
-RSI has edged lower from over 70 levels
-MACD line has crossed below the signal line
We would sell NZD/USD rallies around 0.6870, SL: 0.6910, TP1: 0.6825, TP2: 0.68
200-DMA at 0.6846 is immediate support, holding downside for now, low thus far 0.6847, breach below 200-DMA eyes 0.6825 area 28 Dec lows.
0.6897 (Oct 15 highs) is strong resistance on the upside ahead of 0.6890 (rising trendline)
An added element of profit taking seen into year-end after kiwi's 4.5% Dec rally, another negative for the pair.
Techs on 4-hourlies point further downside:
-Stochs have rolled over from overbought zone
-RSI has edged lower from over 70 levels
-MACD line has crossed below the signal line
We would sell NZD/USD rallies around 0.6870, SL: 0.6910, TP1: 0.6825, TP2: 0.68
Dagangan ditutup: sasaran tercapai
