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2 Jul 2014
NZD/USD pressured within day range
FXStreet (Bali) - NZD/USD continues to trade stuck between offer ahead of 0.88 and bids circa 0.8725, with current price at 0.8560.
The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish. Currently RSI is at 35.83, down from the last hourly print at 46.98, with ADX at 23.17, down from its previous close at 24.73. Daily RSI sits at 63.51, in neutral territory. Looking to momentum indicators, the hourly 200 SMA is currently at 0.8760, up from the last close at 0.8735 and climbing.
Jim Langlands, Founder at FXCharts, notes: "The bearish divergence on the 4 hour charts is flashing a warning signal of a possible near term correction to the downside, but the dailies are still pointing higher and thus buying dips still appears to be the way to go."
The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish. Currently RSI is at 35.83, down from the last hourly print at 46.98, with ADX at 23.17, down from its previous close at 24.73. Daily RSI sits at 63.51, in neutral territory. Looking to momentum indicators, the hourly 200 SMA is currently at 0.8760, up from the last close at 0.8735 and climbing.
Jim Langlands, Founder at FXCharts, notes: "The bearish divergence on the 4 hour charts is flashing a warning signal of a possible near term correction to the downside, but the dailies are still pointing higher and thus buying dips still appears to be the way to go."