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19 May 2014
NZD/USD pushing towards 0.8640 session high
FXStreet (Bali) - Currently, NZD/USD is trading at 0.8640, up 0.15% on the day, having posted a daily high at 0.8644 and low at 0.8630.
The hourly FXStreet OB/OS Index is showing neutral conditions, longside the FXStreet Trend Index which is slightly bearish. At the time of writing, RSI is neutral at 60.88, up from 46.51 at the last hour close, while ADX is ranging at 17.51, up from 12.32 previous. Meanwhile, daily RSI is in neutral territory at 50.95.
On the hourly NZD/USD chart, the 200 SMA is declining and currently at 0.8649, down from the previous hour close at 0.8654. On average, the exponential closing price for the past 20 days is 0.8630, with the trend indicating a rangebound movement ahead.
NZD/USD technicals
According to FXStreet Contributor Jim Langlands: "The choppy trade of the last few weeks between 0.8520/0.8780 could well be a sign that a top is in the process of forming, and I am watching the daily bearish divergence quite closely. However until 0.8600 gives way, we probably need to remain with the uptrend, in looking for another run above 0.8700 and maybe towards the weekly channel top, which coincides pretty much with the July 2011 high at 0.8842."
The hourly FXStreet OB/OS Index is showing neutral conditions, longside the FXStreet Trend Index which is slightly bearish. At the time of writing, RSI is neutral at 60.88, up from 46.51 at the last hour close, while ADX is ranging at 17.51, up from 12.32 previous. Meanwhile, daily RSI is in neutral territory at 50.95.
On the hourly NZD/USD chart, the 200 SMA is declining and currently at 0.8649, down from the previous hour close at 0.8654. On average, the exponential closing price for the past 20 days is 0.8630, with the trend indicating a rangebound movement ahead.
NZD/USD technicals
According to FXStreet Contributor Jim Langlands: "The choppy trade of the last few weeks between 0.8520/0.8780 could well be a sign that a top is in the process of forming, and I am watching the daily bearish divergence quite closely. However until 0.8600 gives way, we probably need to remain with the uptrend, in looking for another run above 0.8700 and maybe towards the weekly channel top, which coincides pretty much with the July 2011 high at 0.8842."