NZD/USD sellers stood their ground and buyers retreated in recent sessions as MACD (26, 12, 9) has fallen off below its median line.
On a 4hr chart, this technical condition may be taken by many trend-following traders as a trigger to liquidate long positions.
The fact that the MACD hasn't been under zero for at least one week of trading, reinforces the argument that room for further NZD/USD depreciation is there.
|0.7318399747212 ||0.7323099772135 ||0.7329099973042 ||0.7339800198872 ||0.7344500223795 ||0.7350500424702 |
|Trend Index||OB/OS Index|
| Bearish || Neutral |