Yesterday, the New Zealand dollar hit the resistance level above the falling channel against the US dollar. The New Zealand dollar was slightly lower against the US dollar after the opening bell this morning. On the D1 chart, the SAR is above the price, in line with the 200EMA, which has now fallen below. The MACD indicator also sees strong bearish volume, and the signal line has also fallen below the 0-axis. Trends favor shorting.
The H1 chart downtrend remains in place. The double-line MA forms a death cross signal. After a slight correction yesterday, the price will have a greater chance of returning to the downward trend if the price cannot break through the upper resistance level.
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.
