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Markets

Potential Reversal for NZD/USD

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The NZD has dropped significantly versus the USD in the past 2 weeks, and it is currently traded around 0.7540. And now as evident in the data below, the daily chart is giving bullish signals, indicating that NZD/USD pair might go up. Forex traders can take advantage of this impending movement by having their Entry Orders in place to capture this reversal.

• Below is the daily chart of the NZD/USD currency pair.

• The technical indicators that are used are the William Percent Range, Relative Strength Index (RSI) , and Slow Stochastic .

• Point 1: The Slow Stochastic indicates an impending bullish cross, signaling that the next move may be in an upward direction.

• Point 2: The Relative Strength Index (RSI) indicates that the price of this cross currently floats in the oversold territory, signaling upward pressure.

• Point 3: The Williams Percent Range has peaked near at the -100 marker, which means that there may actually be a strong level of upward pressure.

NZD/USD Daily Chart

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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