NZD/USD Technical Analysis: Sell-off could stall on bull divergence
|- The NZD/USD 15-minute chart and the hourly chart shows a bullish divergence of the relative strength index (RSI).
- The RSI on the 4-hour chart shows oversold conditions.
- So, the sell-off could stall for a few hours, but the broader outlook remains bearish.
15-minute chart
Spot Rate: 0.6750
Daily High: 0.6760
Daily Low: 0.6748
Trend: Minor recovery likely
R1: 0.6786 (200-hour moving average)
R2: 0.6806 (50-hour moving average)
R3: 0.6826 (descending 20-day moving average)
Support
S1: 0.6717 (61.8% Fib R of 2015-2017 rally)
S2: 0.6688 (previous week's low)
S3: 0.6675 (May 2016 low)
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