Technical Analysis – NZDUSD hovers in Ichimoku cloud posting narrow range in near term
Posted on May 30, 2019 at 8:14 am GMTNZDUSD has jumped into the Ichimoku cloud over the last few sessions as it found strong support around the 0.6505 barrier. The price touched the 40-simple moving average (SMA) in the 4-hour chart, and returned lower again, while the RSI indicator is also pointing down in the negative region. What remains to be seen is if the bears have enough fuel to continue the sharp negative movement or change the bearish bias to neutral. A move below the 40-SMA could [..]