New Zealand, U.S. Dollar in Rising Wedge, Negative Divergence

The New Zealand Dollar has been oscillating in a rising wedge against it’s U.S. counterpart since the start of February. Generally, a rising wedge is a bearish pattern that fades out at a point where support and resistance significantly contracts. Negative divergence on the RSI may be telling us that while the exchange rate has been in favor of the Kiwi, that selling pressure has been slowing the rate at which the currency has been increasing in value.