NZD/USD – bearish MA crossover, rejection at key resistance

٢٦ أبريل ٢٠١٦

Resistance – 0.6897, 0.6913, 0.6952

Support - 0.6852, 0.68, 0.6773

• Kiwi’s rejection at 5-DMA at 0.6897; also a key resistance (Oct 15 high); coupled with bearish 5-DMA and 10-DMA crossover indicates prices could revisit daily low of 0.6857. A break lower would push RSI below 50.00 on daily and hourly timeframe, thereby opening doors for 0.68 levels.
  

• On the higher side, intraday move above 0.6897 could yield 0.6913 (10-DMA). However, a daily close above 0.6897 is needed in order to crowd out bearish forces.