“¢ The pair’s overnight attempted bounce quickly ran out of steam near the very important 200-day SMA, with bears now eyeing a retest of 3-1/2 month lows set in the previous session. “¢ Given the recent bearish break through a near three-month-old ascending trend-line, the price action now seems to suggest that the near-term selling pressure might still be far from over. “¢ Bearish oscillators on daily/4-hourly charts add credence to the negative outlook, though slightly oversold conditions on the 1-hourly chart might help limit further losses, at least for now. “¢ Hence, it would be prudent to wait for a minor pullback/some consolidation before traders start positioning aggressively for an extension of the near-term depreciating move. NZD/USD daily chart 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 South Korean cryptocurrency exchange Coinnest has closed shop FX Street 4 years "¢ The pair's overnight attempted bounce quickly ran out of steam near the very important 200-day SMA, with bears now eyeing a retest of 3-1/2 month lows set in the previous session. "¢ Given the recent bearish break through a near three-month-old ascending trend-line, the price action now seems to suggest that the near-term selling pressure might still be far from over. "¢ Bearish oscillators on daily/4-hourly charts add credence to the negative outlook, though slightly oversold conditions on the 1-hourly chart might help limit further losses, at least for now. "¢… 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.
