The New Zealand dollar fell sharply against the US dollar yesterday. The Fed’s hawkish stance led non-US currencies lower. Yesterday’s meeting of the Fed’s speech: the May interest rate decision to raise interest rates by 50 basis points stimulated the upward trend of the market. The MACD indicator on the D1 chart has broken the signal line, and the RSI indicator has also fallen to the 36 range, indicating that the market is in a strong downtrend. The ADX indicator -DI is also above +DI, and the DMI line also forms a sloping upward signal.
Although the RSI has entered the oversold area in the H1 chart, it can be shorted after waiting for a pullback. MACD short volume is also very strong.
All transactions involve risks, the above analysis is for reference only. When placing an order, be sure to set the lot size and remember to set the stop loss.
