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NZD/USD Bulls are losing momentum

By : Mex Group

NZD/USD Bulls are losing momentum

10 September 2016, 01:02

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.

NZD/USD 0001-01-01T00:00:00
0/0 (0%)
H0 L0

S3S2S1R1R2R3
0.7318399747212 0.7323099772135 0.7329099973042 0.7339800198872 0.7344500223795 0.7350500424702

Trend IndexOB/OS Index
Bearish Neutral