The New Zealand Dollar Is Active In Asian Trading Session

• 20 Apr 2018

NZD/USD

The NZD/USD pair has weakened against the U.S. Dollar and is fast approaching a key support area at the 0.721 price level. RSI also has a sharp downward trajectory, with further downside potential. Volume has been increasing into the move indicating strong conviction from sellers.

EUR/NZD

The EUR/NZD pair is testing the 1.706 price level which represents a strong resistance area, which price action has rejected on several previous occasions. RSI has a sharp upward trajectory and MACD is turning more bullish. A break of this price level would be significant.

GBP/NZD

The 20- period EMA is acting as a resistance area for the pair which has just broken through the 1.940 price level. The next price target for buyers will likely be the 1.956 price level. Momentum indicators support bullish sentiment.

NZD/JPY

The NZD/JPY pair is testing the low price SMA as the NZ Dollar begins to weaken against the Japanese Yen. RSI has a downward trajectory, descending from a previous overbought position and MACD appears to be on the verge of a momentum reversal.