Home/Newsfeed

NZD/USD – Is the Decline Losing Momentum? (Video)

Share Print 0

Craig Erlam, Senior Market Analyst at Oanda speaks to Matt Brown about the NZDUSD and how the Kiwi Dollar has been in a downtrend and notes that despite the completion of the head and shoulders pattern, the pair could still move lower. Recent profit taking and consolidation show a continuation pattern, as seen by a break of the flag. However, Erlam highlights the momentum indicators are not yet showing a new low and are far from showing new lows. If a low is touched, then this will show confirmation and indicate the momentum is behind the bearish move. If new lows aren’t reached in the MACD and Stochastic, there could be upside to the pair. Finally, this could well be the formation of a double bottom forming.

Midday Movers

Oil Gushes Lower Leading Commodity Exodus

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Former Craig

Former Craig

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Back to Top