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NZD/USD exceptionally upbeat

NZD/USD was one of the weakest currencies yesterday. We opened a sell signal as well which hit take profit overnight. Today though it turned to be one of the strongest among the majors. Maybe the economic data from China which beat the expectations has given it a lift. The stochastic is overbought in the 4 hour chart so hopefully that will place a cap on this up move, because apart from the US consumer confidence numbers, there´s no other economic data on the calendar today to have an impact on the forex market.

 Stochastic is overbought in the H4 chart

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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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