02.06.2020
The pair is correcting downwards after a noticeable rise caused by the optimistic outlook for the global economic recovery as countries lift lockdowns. After a possible slight correction, expect the pair to grow further.
Technical side:
The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI has turned down and is declining. Stoch also turned around and are coming out of the overbought zone.
Trading recommendations:
There is a high probability of a 23% Fibonacci correction to 0.6220 before the pair resumes growth to 0.6365.
The NZDUSD rate online: monitor the movement of the pair in real time.
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