Technical analysis 08.11.2018

NZDUSD

The pair is in uptrend due to RBNZ’s decision to remove mentioning of possible raise of interest rates from their resolution, as well as the remaining expectations that the US and China will reach a trade deal at the G20 meeting in Buenos Aires that will take place in the end of the month.

The price is above the upper Bollinger band, above SMA 5 and SMA 14. RSI is in the overbought territory and is moving horizontally. Stoch are moving down.

Trading recommendations:

The pair may continue growing to 0.6850 if it takes hold above 0.6765 and passes 0.6800.