NZD/USD is significantly overbought

The NZD/USD pair approached significant resistance: 0.6780-0.6800 after growth on the weakness of the US dollar and optimism, which strengthened the demand for commodity currencies. This level corresponds to the upper limit of the two-month downtrend, from which we can expect a rebound. Under the conditions of a reversal formation, we can expect a decline to support levels: 0.6700 and 0.6650. Significant resistance settled at levels: 0.6800 and 0.6840. Deals for sale should be considered when forming a clear reversal or consolidation below the level of 0.6750-60.

Read also: “A Strategy MACD + Parabolic SAR is a successful duet”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. Another “Top 5” books on trading. It can’t be too much information!
2. Long-term investment in currency pairs! The EUR/JPY pair!
3. Geopolitical risks for the beginning of 2019! (Part 3)

Current Investment ideas:

1. Intel Microprocessors for Macro Earnings at the Stock Exchange! Connect!
2. Fabulous profit at Walt Disney shares in January!