24 Jun 2014
NZD/USD keeps 0.87 but fails to take out 0.8750
FXStreet (Bali) - NZD/USD is trading at 0.8713, with activity post NY close muted as expected, having posted a daily high at 0.8724 and low at 0.8706.
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish. At the time of writing, RSI is neutral at 50.67, up from 50.45 at the last hour close, while ADX is ranging at 12.16, down from 31.89 previous. Meanwhile, daily RSI is in neutral territory at 62.23. On the hourly NZD/USD chart, the 200 SMA is climbing and currently at 0.8714, up from the previous hour close at 0.8678.
According to Jim Langlands, Founder at FXCharts: "Given that both the 1 and 4 hour indicators appear to be pointing lower, the Kiwi could test the rising trend support that it is currently sitting on, with a chance of heading back below 0.8700 for a look at the 200 HMA currently at 0.8680. On the topside, above 0.8745/50 would suggest a test of the 2014 high at 0.8778 (6 May). Eventually we may even head towards the 2013 high at 0.8842."
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish. At the time of writing, RSI is neutral at 50.67, up from 50.45 at the last hour close, while ADX is ranging at 12.16, down from 31.89 previous. Meanwhile, daily RSI is in neutral territory at 62.23. On the hourly NZD/USD chart, the 200 SMA is climbing and currently at 0.8714, up from the previous hour close at 0.8678.
According to Jim Langlands, Founder at FXCharts: "Given that both the 1 and 4 hour indicators appear to be pointing lower, the Kiwi could test the rising trend support that it is currently sitting on, with a chance of heading back below 0.8700 for a look at the 200 HMA currently at 0.8680. On the topside, above 0.8745/50 would suggest a test of the 2014 high at 0.8778 (6 May). Eventually we may even head towards the 2013 high at 0.8842."