Created
: 2024.08.27
2024.08.27 06:40
The NZD/JPY currency pair is facing renewed selling pressure on Tuesday, declining by 0.30% to trade around 89.70. Technical indicators display mixed signals, suggesting that the pair is likely to remain range-bound in the near term.
The Relative Strength Index (RSI) is fluctuating around the 50 midline at 46, indicating that neither buyers nor sellers have a clear advantage. This reading suggests that the pair is likely to continue its sideways movement within the current range. The Moving Average Convergence Divergence (MACD) is also showing a neutral bias, with flat green bars indicating that the bullish momentum is neither gaining nor losing strength.
As the pair seems to be stuck in a consolidation period and with indicators flat, the cross might continue trading in the 88.00-90.00 channel. A break above or below these levels might set the pace for the short term.
Created
: 2024.08.27
Last updated
: 2024.08.27
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