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7 Jul 2014
NZD/USD under pressure in early Asia
FXStreet (Bali) - NZD/USD is trading at 0.8719, down -0.24% on the day, having posted a daily high at 0.8750 and low at 0.8717.
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is strongly bearish. At the time of writing, RSI is neutral at 35.00, down from 40.39 at the last hour close, while ADX is ranging at 26.73, up from 18.10 previous. Meanwhile, daily RSI is in neutral territory at 59.05. On the hourly NZD/USD chart, the 200 SMA is climbing and currently at 0.8752, up from the previous hour close at 0.8749.
According to Jim Langlands, Founder at FXCharts: "The daily Tenkan at 0.8720 continues to provide the initial support, a break of which would head to 0.8700. A break of this would see a deeper correction towards 0.86601(25 June low) but currently looks unlikely. On the topside, above 0.8775 would see another run up to last week’s 0.8793 top and then to 0.8800..."
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is strongly bearish. At the time of writing, RSI is neutral at 35.00, down from 40.39 at the last hour close, while ADX is ranging at 26.73, up from 18.10 previous. Meanwhile, daily RSI is in neutral territory at 59.05. On the hourly NZD/USD chart, the 200 SMA is climbing and currently at 0.8752, up from the previous hour close at 0.8749.
According to Jim Langlands, Founder at FXCharts: "The daily Tenkan at 0.8720 continues to provide the initial support, a break of which would head to 0.8700. A break of this would see a deeper correction towards 0.86601(25 June low) but currently looks unlikely. On the topside, above 0.8775 would see another run up to last week’s 0.8793 top and then to 0.8800..."