Divergence on NZD/USD

Divergence on NZD/USD

Technical analysis signals a possible correction of the NZD/USD currency pair after significant growth over the past two weeks. There is a classic reversal formation of the price and MACD histogram divergence on the trading instrument for quite a long time (H1 timeframe). At the moment, the NZD/USD quotes are testing local support for 0.73350. We recommend you to pay attention to this situation.

If the price fixes below the 0.73350 mark, you need to look for entry points to the market to open short positions. The immediate goal for profit taking is the round level of 0.73000. The movement is tending to 0.72650-0.72450. When tracking the position, we recommend using a trailing stop.

by JustForex, 2018.04.16

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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