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Expert In



Analysis on NZDUSD for December 9, 2021.

NZDUSD remains in a bearish trend making lower lows and lower highs. Resistance at 0.6820 remains key for the short-term trend. The RSI has started providing us with bullish divergence signals. These signals are important warnings that imply downtrend will soon end.


Blue line- resistance

Red lines- Bullish divergence

NZDUSD is challenging the resistance trend line. As long as price is below 0.6820, NZDUSD will be vulnerable to more downside. The bullish RSI divergence signals provide a good chances of a reversal, but no confirmation has been given yet. A rejection at 0.6820-0.68 could lead to new lower lows towards 0.67. Currently bears remain in control of the trend, but there are increased chances we might see an important reversal.

The material has been provided by InstaForex Company -