Technical Analysis

A Mixed Bag For The New Zealand Dollar To Close The Trading Week

• 1 Jun 2018

GBP/NZD

The British Pound has suffered a significant sell off against the New Zealand Dollar. However, a series of doji candles could indicate that the pair is on the verge of a trend change. At the same time, RSI has reached oversold conditions which may suggest the bearish trend will come to an end.

NZD/JPY

The NZD/JPY pair is testing the high price SMA and a break may prove significant, however the break on previous occasions was short-lived. In support of the bullish trend, MACD is becoming less negative and RSI has an upward trajectory.

NZD/CAD

The NZD/CAD has broken the 0.901 price level and has a strong bullish trajectory. MACD is close to breaking the zero line in support of the bullish bias. RSI has a sharp upward trajectory indicating the current uptrend will continue.

NZD/CHF

The NZD/CHF pair is testing the 20- period EMA and a break may result in a reversal of the current moderate downtrend. RSI has a mild upward trajectory and MACD has stalled in bearish territory.