Baxia Markets
September 21, 2021

Will the downward trend continue on NZDUSD?

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After a two-week rising, the price started to hover around 0.711 on Sep 3rd, during which the Ichimoku overlapped with the price line. However, this flat trend did not last for too long; the price went down on Sep 16th. Then the momentous soon became oversold. RSI even reached the 30 level twice. So, will the price continue?




The Bollinger Bands started getting broader since the fall beginning. As we know, the broad Bollinger Bands means a breakout signal. For now, the fluctuation becomes larger; will the price breakout at this time? I do not think so. The broad Bollinger Bands means the breakout has already finished. Now, the price bounced back to the middle line of the Bollinger Bands; the mild movement may show up. Alao, the Stochastics and RSI both move to a middle area, which means the price may not make too much up and down recently.


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