Current trend

At the moment, the instrument is declining, updating local lows.

The main reason for the weakness of the pair is the strengthening of USD. This week, the macroeconomic reports from the US systematically exceed forecasts, reinforcing the "bullish" momentum of USD. In addition, on Wednesday, the Fed Chairman Jerome Powell expressed confidence that the regulator is no longer facing the problem of low inflation, which also supported the US dollar.

At the same time, weak data from the New Zealand labor market and falling commodity prices exert pressure on the pair.

Today at 14:30 (GMT+2), the data on employment will be published in the US. In addition, investors monitor the development of the trade conflict between the US and China.

Support and resistance

On the H4 chart the pair is decreasing along the lower line of Bollinger Bands. The indicator reversed downwards, and the price range has expanded, which indicates the continuation of the downtrend. MACD is keeping a stable sell signal. Stochastic is about to leave the oversold area; a buy signal can be formed during the day.

Resistance levels: 0.6500, 0.6540, 0.6576, 0.6637, 0.6690, 0.6730.

Support levels: 0.6454, 0.6375, 0.6337.

Trading tips

Short positions may be opened from the current level with target at 0.6340 and stop loss at 0.6505. Implementation period: 1-2 days.

Long positions may be opened above 0.6505 with target at 0.6545 and stop loss at 0.6490. Implementation period: 1 day.

New Zealand Dollar vs US Dollar



TimeframeDay's Range
Entry Point0.6462
Take Profit0.6340
Stop Loss0.6505
Support levels0.6337, 0.6375, 0.6454, 0.6500, 0.6540, 0.6576, 0.6637, 0.6690, 0.6730

Alternative scenario

RecommendationsBUY STOP
Entry Point0.6510
Take Profit0.6545
Stop Loss0.6490
Support levels0.6337, 0.6375, 0.6454, 0.6500, 0.6540, 0.6576, 0.6637, 0.6690, 0.6730
NZD/USD: general review

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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