Technical Analysis – NZDUSD rallies to 11-month high
Posted on March 13, 2014 at 8:08 am GMTNZDUSD is in a strong uptrend, with sights set on a test of next key resistance at 0.8600. The pair rallied strongly following the RBNZ rate announcement, bouncing from a pre-data low of 0.8437 to 0.8575 in the early Euroepan session. Bullish momentum is strong, with prices riding the upper Bollinger Band and RSI rising above 70. However the stochastics indicator is in overbought territory, which could warn that a short term correction is due. Dips would lead to immediate [..]