20.12.202118:03 Forex Analysis & Reviews: NZDUSD remains under pressure

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

NZDUSD reached earlier today the previous lows we recently tested at 0.6696. The RSI continues making higher lows providing bullish divergence signals in the Daily time frame. The downside potential is limited. NZDUSD technically remains in a bearish trend, but a reversal is expected soon.

Red lines - bullish divergence

NZDUSD could make new lows towards 0.6680-0.6670, but I believe that price will bounce again at least towards 0.6750. At current levels I prefer to be neutral if not bullish as I see more chances of a strong bounce above 0.6830 than continuing lower for much longer. Resistance is at 0.68.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.