NZD/USD’s daily chart indicators are reporting early signs of a bullish reversal. Trend reversal would be confirmed above Monday’s high. NZD/USD remains on the defensive in Asia amid rising signs of seller exhaustion on the technical charts. To start with, the moving average convergence divergence histogram has produced higher lows in the last 20 days, contradicting the lower lows on NZD/USD. That bullish divergence indicates selling momentum has slowed and the downtrend is more susceptible to a reversal. Further, the 14-day relative strength index (RSI) is reporting oversold conditions with a below-30 print. So far, however, a corrective bounce has remained elusive. As of writing, the pair is trading in the red at 0.6355, having dropped 0.44% on Tuesday. A break above 0.6403 – the high of Monday’s long-tailed Doji – is needed to validate the bullish developments on key indicators and open the doors to 0.6482 (May 23 low). On the downside, acceptance under Monday’s low of 0.6341 would only bolster the bearish setup. Daily chart Trend: Bullish above 0.6403 Pivot points 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 PBOC to set Yuan reference rate at 7.1027 per US Dollar – Reuters estimate FX Street 4 years NZD/USD's daily chart indicators are reporting early signs of a bullish reversal. Trend reversal would be confirmed above Monday's high. NZD/USD remains on the defensive in Asia amid rising signs of seller exhaustion on the technical charts. To start with, the moving average convergence divergence histogram has produced higher lows in the last 20 days, contradicting the lower lows on NZD/USD. That bullish divergence indicates selling momentum has slowed and the downtrend is more susceptible to a reversal. Further, the 14-day relative strength index (RSI) is reporting oversold conditions with a below-30 print. So far, however, a corrective bounce has… 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.
