Buyers may narrow their NZD/USD projections

Market’s preference for a firmer NZD/USD has been reflected in historic highs in the daily MACD series.

Equally significant in its bullish makeup is the MACD histogram, which has reached a peak not seen in the last six months.

Yesterday's higher MACD reading though, is an early warning that momentum has started to wane and that buyers may narrow their upward projections.