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NZDUSD stages a steady recovery from 2023 lows But momentum indicators warn of overbought risks Is there a pullback in sight? NZDUSD has been in a steep uptrend since its 2023 low of 0.5772, generating consecutive higher highs and a V-shaped recovery pattern. However, the latest advance seems substantially overstretched as the RSI has been within its overbought zone for […]

The post NZDUSD Clocks Fresh 5-Month High; Looks Overbought appeared first on Action Forex.

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12/08/2024

AUD/USD Outlook: Lifted by Fresh Risk Appetite, Retests Key Resistance Zone

AUDUSD advanced 0.5% in Asian / European trading on Monday, to completely reverse Friday’s drop and generate initial signal of bullish continuation. Fresh strength cracked pivotal barriers at 0.6600 zone (converged 200/100DMA’s / base of rising daily cloud, where Friday’s action was strongly rejected. Gains so far minimized signals of bull trap and recovery stall […]
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