Thursday, 8 January 2015

NZD/USD Forex Market Report

Detailed Technical analysis of NZD-USD
The NZD/USD is in consolidation phase. It is sustaining below the falling trend line with a positive bias. The pair is showing strength in buying side & consolidating on higher levels, gaining strength for breaking upside. If NZD/USD breaks the level of 0.7800 at upside & sustains above it then we can expect it to test the level of 0.7830/0.7850 in today's session. RSI is also sustaining in buying territory & indicating to continue its ongoing trend for this week also.
In MACD , MACD line is sustaining above the zero line & supporting the upside movement for next few sessions.
Detailed Technical Chart of NZD-USD
Technical Chart

STRATEGY :- NZD/USD is successfully sustaining on higher level & looking further bullish on charts. One can go for buy on dips strategy for this pair for intra day to mid term positions.