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.

Omkar Godbole FXStreet Contributor

15-minute chart

Spot Rate: 0.6750

Daily High: 0.6760

Daily Low: 0.6748

Trend: Minor recovery likely

Resistance

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)

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

EUR/USD turns negative near 1.1850

EUR/USD has given up its earlier intraday gains on Thursday and is now struggling to hold above the 1.1850 area. The US Dollar is finding renewed support from a pick-up in risk aversion, while fresh market chatter suggesting Russia could be considering a return to the US Dollar system is also lending the Greenback an extra boost.

GBP/USD change course, nears 1.3600

GBP/USD gives away its daily gains and recedes toward the low-1.3600s on Thursday. Indeed, Cable now struggles to regain some upside traction on the back of the sudden bout of buying interest in the Greenback. In the meantime, investors continue to assess a string of underwhelming UK data releases released earlier in the day.