NZD/USD prints gain to test key SMA hurdle. Daily chart shows a double top bearish reversal pattern. NZD/USD is pushing against the 5-day simple moving average (SMA) hurdle at 0.6564, having picked up a bid 0.6541 early Monday. The uptick could be associated with the gains in the US stock index futures and the dollar’s broad-based moderate losses. However, the bias remains bearish, with the pair trading well below 0.6601 – the double top neckline breached to the downside on Sept. 23. Also, the 14-day relative strength index continues to report bearish conditions with a below-50 print. The 10-day and 50-day simple moving averages (SMAs) are about to produce a bearish crossover. The support is located at 0.6507 (100-day SMA) and 0.6489 (Aug. 20 low), and resistances are seen at 0.6601 and 0.6638 (50-day SMA). 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 Oil has little room to rise in Q4 – Vitol FX Street 2 years NZD/USD prints gain to test key SMA hurdle. Daily chart shows a double top bearish reversal pattern. NZD/USD is pushing against the 5-day simple moving average (SMA) hurdle at 0.6564, having picked up a bid 0.6541 early Monday. The uptick could be associated with the gains in the US stock index futures and the dollar's broad-based moderate losses. However, the bias remains bearish, with the pair trading well below 0.6601 – the double top neckline breached to the downside on Sept. 23. Also, the 14-day relative strength index continues to report bearish conditions with a below-50 print. The 10-day and… 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.
