Major Pairs Make Gains Over New Zealand Dollar On ANZAC Day

• 25 Apr 2018

NZD/USD

The NZD/USD pair has broken the 0.717 price level which represents a strong support area. The pair has broken the lower Bollinger band on the last three trading sessions and RSI has hit the 30 oversold line. However, volume is rising into the move and MACD is on the verge of breaking the zero line. If the bearish momentum continues, the next likely price target is the 0.701 price level.

GBP/NZD

The GBP/NZD pair has reached a previous market top at the 1.968 price level. At the same time, RSI has reached oversold conditions. MACD has decelerated in bullish territory, so the 1.968 price level will prove significant. If price action breaks this level, strong bullish momentum will likely continue.

NZD/CHF

The NZD/CHF has broken the low price SMA and is now testing the 0.696 price level. Price action will likely be pushed to the second support level at 0.692. Momentum indicators have downward trajectories to confirm the bearish bias.

EUR/NZD

The EUR/NZD pair has broken the upper Bollinger band after having broken a significant resistance area at the 1.706 price level. RSI has reached overbought conditions however, MACD is on the verge of breaking the zero line. Volume (not shown) is still rising into the move indicating plenty of appetite from Euro buyers.