NZD/USD: Bids parked below 0.8730 keep range intact
FXStreet (Bali) – NZD/USD is trading at 0.8758, still trapped within a well defined 0.8790-0.8720/30 familiar range after being bought up on the initial US NFP-induced dip.
The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish. Currently RSI is at 35.83, down from the last hourly print at 46.98, with ADX at 23.17, down from its previous close at 24.73. Daily RSI sits at 63.51, in neutral territory.
With spot trading at 0.8758, we can see next resistance ahead at 0.8762 (Hourly 100 SMA), 0.8769 (Hourly 20 EMA), 0.8774 (Daily Open),0.8777 (Daily High) and 0.8780 (Monthly High). Support below can be found at 0.8756 (Daily Classic PP), 0.8755 (Daily Low), 0.8750 (Yesterday’s Low), 0.8744 (Weekly Classic PP) and 0.8735(Hourly 200 SMA). Looking to candlestick patterns, we can see a Doji formation on the 4-hour chart .
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