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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

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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.

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