Tuesday, June 3, 2014

Will the NZD/USD reach the 200 Day Exponential Moving Average?

The Kiwi has continued its fall versus the US Dollar after the greenback gained some strength supported by the better than expected reading on Factory Orders out of the United States. At the moment it seems like the NZD/USD is heading towards the 200 Day Exponential Moving Average just as we see it on the daily chart below, around the 0.8420 level.

The 200 Day EMA could act as a strong support or resistance level and that is why we should be attentive to a possible visit of the price to that zone, because we may get a bounce to the upside from there and may be the opportunity for a possible long entry.


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4 comments:

  1. bewayopaJun 3, 2014, 4:33:00 PM

    It seems that the 200 Day EMA can act as a support.
    If that appens we face a opportunity for a long entry.

    ReplyDelete
  2. AnonymousJun 4, 2014, 4:28:00 AM

    the The question is: will he hold or break it?

    ReplyDelete
  3. UnknownJun 8, 2014, 5:58:00 PM

    it reached but then rebounded strongly

    ReplyDelete
  4. UnknownJun 8, 2014, 6:21:00 PM

    it did

    ReplyDelete

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