Even though on the 4-hour chart the NZD/USD 20 EMA commodity currency pair is above the 50 EMA, which indicates that Buyers still dominate the current market, the appearance of deviations between Kiwi price movements and the Stochastic Oscillator indicator gives a hint that in the near future NZD/USD has the potential to corrected to weaken, where the 0.6067 level will try to be tested and broken downwards. If this level is successfully break downwards, the Kiwi will continue its decline to the 0.6040 level and if the momentum and volatility are supportive then the 0.6001 level will be the next target to be aimed at, but all of these scenarios can become invalid if on its way to these targets suddenly the Kiwi strengthens again until it breaks above the 0.6133 level.
(Disclaimer)