Technical Analysis – NZDUSD restores bullish momentum; uptrend solid and intact
Posted on December 9, 2020 at 11:02 am GMTNZDUSD pivoted higher early on Wednesday and towards its 32-month top of 0.7100, refusing to abandon the 0.7000 area for the time being. The RSI is also reluctant to exit the overbought zone, suggesting that although the market remains vulnerable to downside corrections, there is still some bullish fuel left in the tank. The upside reversal in the fast-stochastics and the fact that the price continues to fluctuate within the upper Bollinger area is also keeping the short-term bias tilted to the upside. [..]