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NZD/USD intraday: above its upper Bollinger band
2024-03-26
663
Our pivot point stands at 0.6002.
Our preference: the upside prevails as long as 0.6002 is support.
Alternative scenario: the downside breakout of 0.6002 would call for 0.5985 and 0.5974.
Comment: the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.6010 and 0.6006). Finally, the NZD/USD is trading above its upper Bollinger band (standing at 0.6022).
Supports and resistances:
0.6078 **
0.6067 *
0.6057 **
0.6046
0.6025 last
0.6009
0.6002 **
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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