NZD/USD correct from multi-year tops of 0.7172. Overbought RSI conditions on 1D could fuel a pullback. Focus on US stimulus news and US dollar flows. NZD/USD extends its corrective declines from two-and-a-half year highs of 0.7172, now holding the lower ground below 0.7150, as the US dollar stages an impressive bounce amid tepid market sentiment. Markets still remain hopeful about a likely US stimulus deal, as they look to take profits off the table, as the final full week of this year draws to an end. From a near-term technical perspective, the 14-day Relative Strength Index (RSI) hovers within the overbought territory suggesting that the price could pullback further before resuming the uptrend. The immediate support for the bulls is seen at the 0.7100 round figure. The bullish momentum will hold so long as the price defends the upward-sloping 21-daily moving average (DMA) at 0.7045. To the upside, the bulls need to takeout the 2020 tops of 0.7172 in order to challenge the 0.7200 barrier. NZD/USD: Daily chart NZD/USD: Additional 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 EUR/USD under pressure on dollar bounce, focus on German IFO Expectations FX Street 1 year NZD/USD correct from multi-year tops of 0.7172. Overbought RSI conditions on 1D could fuel a pullback. Focus on US stimulus news and US dollar flows. NZD/USD extends its corrective declines from two-and-a-half year highs of 0.7172, now holding the lower ground below 0.7150, as the US dollar stages an impressive bounce amid tepid market sentiment. Markets still remain hopeful about a likely US stimulus deal, as they look to take profits off the table, as the final full week of this year draws to an end. From a near-term technical perspective, the 14-day Relative Strength Index (RSI) hovers within the overbought… 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.
