Good day traders!

The chart below tells us that the up trend is still intact. The above is a daily time frame of the NZD/USD. The stochastic is pointing up and there is still some room for the stochastic to go before it is in the overbought region.

nzd/usd technical analysis

nzd/usd trade analysis

The MACD have not crossed to the upside yet but we can see that the MACD bars are getting shorter although they are still in the red.

The 61.8% Fibo resistance is preventing the price from going up and it is in confluence with the 20EMA. Hence we should see the price drop from there even if there is intention of price going up.

Hence, I would not take any trade in this pair as the signals are mixed.

All the best to your trading.

~ Ardy

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