NZD/USD faces rejection at six-month high of 0.6707. Daily RSI shows bearish divergence and scope for a pullback. NZD/USD pair is currently trading in the red near 0.6688, having hit a six-month high of 0.6707 early Friday. The pair has faced rejection above 0.67 for the second time this week. The bulls hit a wall just above 0.67 on Monday. That, alongside 14-day relative strength index’s (RSI) bearish divergence, suggests ebbing of bullish momentum. A bearish divergence occurs when the RSI prints lower highs as opposed to higher highs on price and often precedes price pullbacks. As such, a pullback could be seen during the day ahead. Support is seen at 0.6655 (10-day SMA) and 0.6614 (July 24 low). On the flip side, acceptance above 0.67 could yield additional gains toward 0.6733 (December 2019 high). 4-hour chart Trend: Pullback likely Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/JPY Price Analysis: Ignores China PMI to ease from immediate resistance line above 75.00 FX Street 3 years NZD/USD faces rejection at six-month high of 0.6707. Daily RSI shows bearish divergence and scope for a pullback. NZD/USD pair is currently trading in the red near 0.6688, having hit a six-month high of 0.6707 early Friday. The pair has faced rejection above 0.67 for the second time this week. The bulls hit a wall just above 0.67 on Monday. That, alongside 14-day relative strength index's (RSI) bearish divergence, suggests ebbing of bullish momentum. A bearish divergence occurs when the RSI prints lower highs as opposed to higher highs on price and often precedes price pullbacks. As such, a pullback… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
