Technical Analysis – NZDUSD eases a bit following sharp upside rally
Posted on November 1, 2018 at 11:42 am GMTNZDUSD recorded a stunning rally over the last three sessions in the 4-hour chart, creating a new one-month high of 0.6615. Currently, though, the pair is on the backfoot and the technical indicators suggest that the market could ease a little bit in the short-term. The RSI is moving marginally south after the bounce off the overbought levels, while the stochastic oscillator is showing signs for a potential retracement in price action. The Stochastics indicate that a pullback is not far off [..]