- The bullish divergence of the relative strength index (RSI), as seen in the hourly chart, indicates that the NZD/USD pair could rise to trendline resistance, currently located at 0.6455.
- A violation there would add credence to the bull RSI divergence and would open up upside toward the falling 50-hour exponential moving average (EMA) of 0.6471.
- A break below 0.6424 would invalidate the bullish divergence of the RSI.
Hourly Chart
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Spot rate: 0.6438
Daily HIgh: 0.6439
Daily Low: 0.6424
Trend: Bullish
R1: 0.6455 (trendline hurdle)
R2: 0.6471 (50-hour EMA)
R3: 0.6486 (descending 5-day EMA)
Support
S1: 0.6424 (daily low)
S2: 0.64 (psychological level)
S3: 0.6347 (January 2017 low)
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