Ransquawk

I spent a lot of time analyzing NZDUSD in the past week, but it seems that it was worth it because theoretical considerations regarding the future of the quotations worked well, giving several dozen pips of profit. The MACD oscillator still creates a positive (upward) divergence on the chart.

NZDUSD Daily – we have still a positive divergence on the chart

Today, basically from the early morning hours, the pair slowly but successfully moves north, drawing one after another bullish candle on H4. We can also note that the pair quotes have designated local support around 0.6540 (green zone). If there are no negative macroeconomic information about trade cooperation between the US and China – (talks on customs tariffs are planned for 20/09) looking only at the chart and analyzing the pair from the purely technical side – continuation of the upward correction is very likely. The goal may be the trend line – marked on the graph with a blue dotted line.

 

NZDUSD H4 – growth more likely

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Ransquawk