NZD / USD: Daily schedule – up trend and a break of support
Price on diagonal (former) support
Formation: head and shoulders possible breakthrough of the neck line
50 / 200MA: price below 50
CCI (50) passes under 100 – strongly negative territory
Sentiment: negativity for New Zealander ather earthquake in the country and the decrease in interest rates, have a strong negative impact on the NZD. On the other hand the growing possibility of an increase in interest rates in the US have a strong positive impact on the dollar.
Alternative scenario: If the price crosses above the diagonal resistance is likely to see a false breakout and a new upward movement.