Against the US dollar, the New Zealand Dollar is trading lower early on Wednesday as the advance in riskier asset classes loses momentum. The daily swing chart shows that the overall trend is upward. The rise will be confirmed if the price breaks through 0.68340. A shift in direction. We expect the main trend to turn downwards around 0.67020.
0.67350 serves as support while 0.67550 serves as resistance. Currently the price is below the Pivot Point at 0.67480. Since its inception, the EMA of 10 has been trending lower and lower. An upswing can be seen in the RSI and MACD indicators, which are both heading above 50. Currently, the Stochastic is going into the oversold zone. It’s difficult to tell what the ADX is saying.
The price is below the Ichimoku Cloud and the Chinkou Span is near the market price. The Tenkan-sen and the Kijun-sen are both showing a horizontal state.

• There is resistance at 0.67550, followed by resistance at 0.67680 and 0.67750.
• There is support at 0.67350 Below, there is 0.67280 and 0.67150.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.

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