Technical Analysis – NZDUSD looking oversold below 0.70
Posted on March 7, 2017 at 1:13 pm GMTNZDUSD extended its losses into a sixth straight session today, with its one-week decline now totalling about 3%. The sell-off has driven prices below both the 50- and 200-day moving averages, and below the key 0.70 level. As a result, the medium-term picture is looking increasingly neutral after the December to February rally failed to lift prices above the 2016 high of 0.7484. In the shorter-term, the bias is strongly bearish as the RSI is just above oversold level, while [..]