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11.05.202212:00 Forex Analysis & Reviews: Technical review for NZD/USD: price could increase again, but it will be limited

NZD/USD found support at 0.6280, thanks to improved market sentiment, which is manifested in a local rebound in stock indices and an increase in demand for commodity assets. Further upward dynamics in the markets and demand for risky assets will support the pair, and may intensify if the US inflation data released today show a noticeable decline.

technical picture:

The quote is below the middle line of the Bollinger indicator, above the SMA 5, but below the SMA 14. The relative strength index (RSI), meanwhile, is below 50% but is moving up, while the stochastic indicator is leaving the oversold zone.

Possible dynamics:

A rise above 0.6300 will prompt a jump to 0.6450.

Exchange Rates 11.05.2022 analysis

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Pati Gani,
Analytical expert of InstaSpot
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