Technical Analysis of Intraday Price Movement of NZD/USD Commodity Currency Pairs, Tuesday September 19, 2023
September 19, 2023 6:24 am
Even though on the 4-hour chart the NZD/USD commodity currency pair appears to be moving in a Sideways condition (Blue box) where this is confirmed by the WMA (20) which moves between the Candle-Candle bodies, but Sellers are still trying to dominate the Kiwi, this can be seen by the CCI indicator which managed to penetrate below the three main levels (100, 0, -100) where in the near future NZD/USD will try to test the level below its current price, namely level 0.5876 if this level is successfully broken and as long as there is no upward correction that exceeds level 0.593, then NZD/USD will continue its decline to the level of 0.5855.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
Even though on the 4-hour chart the NZD/USD commodity currency pair appears to be moving in a Sideways condition (Blue box) where this is confirmed by the WMA (20) which moves between the Candle-Candle bodies, but Sellers are still trying to dominate the Kiwi, this can be seen by the CCI indicator which managed to penetrate below the three main levels (100, 0, -100) where in the near future NZD/USD will try to test the level below its current price, namely level 0.5876 if this level is successfully broken and as long as there is no upward correction that exceeds level 0.593, then NZD/USD will continue its decline to the level of 0.5855.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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