On the 4 hour chart, we can see a divergence between the Stochastic Oscillator and the price. The NZD/USD pair is trying to break out bellow the Moving Average which acts as its dynamic support and the 0.6735 level. If this level is broken, the pair will decline to 0.6597 as its first target and the 0.6512 level as its second target. This scenario will not come true if the pair rises and closes above the 0.6786 level.
(Disclaimer)
The material has been provided by InstaForex Company - www.instaforex.com
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