NZD/USD looking to finish a cycle

NZD/USD looking to finish a cycle

NZD/USD has been strong across the board, rallying above the 200 SMA at H4 chart. Currently, Kiwi is making a moving average crossover and it’s expected to see further advances in the pair, at least towards the 123.6% Fibonacci extension at 0.7024. To the downside, if the pair makes a pullback at the current stage, then it’s expected to see a decline to the 0.6923 level. Overall, our bullish outlook remains untouched and any dip should be taken as an opportunity to buy.

RSI indicator is hovering in the overbought territory.




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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