NZD/USD is Hitting a Ceiling

NZD/USD is Hitting a Ceiling

9 June 2016, 14:29
Roberto Jacobs
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NZD/USD is Hitting a Ceiling

Although the 50- and the 200-period SMAs are positively aligned, the upside in NZD/USD has stalled in recent trading.

A 4hr stochastic above its median line don’t necessarily favours a liquidation of long-term buy positions, but the 1-hour stochastic is increasingly pointing that it could be necessary soon.

The oscillator has been precariously perched above the 70% level for more than eight hours and has just abandoned overbought territory with the recent hourly close. We see bias for a roll back lower in the short-term.


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