18 Jun 2019
NZD/USD technical analysis: 127% extension comes in at the 0.6270s
- The NZD/YSD has tried to correct from a strong downtrend and but bulls struggle through 0.65 the figure.
- The 0.6480 is a key support ahead of the Oct 2018 lows in the 0.6420s.
- MACD leans bearish.
- Further below, a 127% extension comes in at the 0.6270s, in line with Autumn 2015 levels.
- Both long-term and short-term stochastics are oversold and some consolidation could be expected.
- On a break of 0.6550, a 50% mean reversion to 0.6580 could be on the cards.
