FX.co ★ Technical Analysis of Intraday Price Movement of NZD/USD Commodity Currency Pairs, Thursday June 06 2024.

If we look at the 4-hour chart of the NZD/USD commodity currency pair, even though the EMA 50 is still above the EMA 200 (Golden Cross), this confirms that the power of Buyers still dominates, but with the emergence of a deviation pattern between price movements and the Stochastic Oscillator indicator, in the near future the Kiwi has the potential to be corrected down to 0.6172 as the main target and 0.6151 as the next target, but as long as NZD/USD does not break down below the 0.6129 level, the Kiwi has the potential to strengthen again to the 0.6225 level.

(Disclaimer)