NZDUSD Update, May 18, 2017

NZDUSD Daily 2017.05.18

Last week, May 8-12, 2017, looking at the 1day chart and the 1week chart, we see nzdusd further continue the downtrend making a new bottom at 0.6817 Thursday, May 11. Nzdusd has reversed uptrend and has now approached the top/ resistance at 0.6968, and being near below the said top/resistance, it is now possible that nzdusd will now make top below the said top/resistance and resume the downtrend to break the last low. In the 1day chart, we now see the stoch(5,3,3) now show uptrend and is divergent, while the macd also show uptrend signal.

NZDUSD Weekly 2017.05.18

So we now wait if nzdusd will now make top and reverse down being below the top/resistance at 0.6968. Although nzdusd has made a strong up move recently, it is the view that nzdusd will still continue the downtrend because it has still momentum down. However, if nzdusd break the top/resistance at 0.6968, then we have the next top/resistance at 0.7052 as the possible next target.

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