NZD/USD’s is sidelined in Asia after Friday’s 1% chart. The daily chart RSI and candlestick patterns indicate bearish reversal. NZD/USD is trading largely unchanged on the day near 0.6627, having hit a six-day low of 0.6614 about two hours ago. The 14-day relative strength index (RSI) has dived out of a six-week-long ascending channel. Indicating a short-term bullish-to-bearish trend change. A similar message is being echoed by the daily chart candlestick arrangement. The pair fell by over 1% on Friday, nearly engulfing or undoing the preceding day’s bullish hammer. Further, Friday’s decline validated buyer exhaustion signaled by the pair’s repeated failure to establish a strong foothold above 0.67 observed in the four days to July 30. As such, the pair may test support of the trendline rising from March 19 and May 15 lows. At press time, that support is located at 0.6539. A sustained move above 0.67 is needed to invalidate the immediate bearish case. Daily chart Trend: Bearish 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 US dollar net shorts soar to highest in nine years FX Street 3 years NZD/USD's is sidelined in Asia after Friday's 1% chart. The daily chart RSI and candlestick patterns indicate bearish reversal. NZD/USD is trading largely unchanged on the day near 0.6627, having hit a six-day low of 0.6614 about two hours ago. The 14-day relative strength index (RSI) has dived out of a six-week-long ascending channel. Indicating a short-term bullish-to-bearish trend change. A similar message is being echoed by the daily chart candlestick arrangement. The pair fell by over 1% on Friday, nearly engulfing or undoing the preceding day’s bullish hammer. Further, Friday's decline validated buyer exhaustion signaled by the pair’s repeated… 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.
