The New Zealand Dollar Takes Centre Stage

• 4 Apr 2018

EUR/NZD

The EUR/NZD pair has broken the low price SMA to the downside with strong conviction from sellers allowing the pair to test a recent trading range. In support, RSI has a sharp downward trajectory and there is an imminent break of the zero line on MACD.

Impact event: Eurozone CPI data will be released 12:00 GMT+3 and will impact all Euro pairs.

GBP/NZD

The GBP/NZD pair did indeed break the 1.940 price level and is now testing the 20 period EMA. Momentum indicators confirm bearish momentum with MACD indicating a momentum reversal is underway.

EUR/GBP

The EUR/GBP pair has reached a significant support area at the 0.870 price level, having broken the low price SMA. Despite the break, however, it appears that the pair may be reaching oversold conditions as RSI approaches the 30 support zone and MACD flattens in bearish territory.

NZD/JPY

The NZD/JPY pair has broken the high price SMA to the upside as buyers appear to be returning to the pair. RSI has a sharp upward trajectory with MACD fast approaching the zero line after undergoing a momentum change.