NZD/USD Technical Analysis: Bull RSI divergence on 1H chart, focus on CNH
Our preference: as long as 0.6734 is support look for 0.6809.
Alternative scenario: the downside breakout of 0.6734 would call for 0.6706 and 0.6690.
The NZD/USD pair beat the 200-day moving average (MA) hurdle at
0.6765 soon before press time and could rise further to 0.68 as the hourly chart is reporting a bearish-to-bullish trend change.
At press time, most currencies are reporting gains against the greenback,
possibly tracking the strength in yuan. The USD/CNH pair (offshore yuan exchange rate)
is currently trading 0.13 percent lower on the day at 6.7737, having clocked a low of 6.7646 earlier today.