Current trend

On Thursday, NZD fell slightly against USD due to the publication of the New Zealand trade balance, which deficit in September rose by $0.9 billion, increasing the YoY index to 5.19 billion. In addition, US ambiguous data on the housing market and employment were released, after which the pair regained some of the losses. Today, the instrument has consolidated below the key support 0.6480 and continues to move within the “bearish” trend.

On Friday at 14:30 (GMT+2), US data on GDP and statistics on personal spending will be published.

Support and resistance

On the 4-hour chart, the instrument consolidated below the strong support of 0.6480. Bollinger bands are reversing downwards, and the price range has widened, indicating a continuation of the downtrend. MACD histogram keeps the sell signal. Stochastic entered the oversold area, a buy signal can be formed during the day.

Resistance levels: 0.6503, 0.6534, 0.6577, 0.6609, 0.6641, 0.6684, 0.6723.

Support levels: 0.6483, 0.6449, 0.6422, 0.6400.

Trading tips

Short positions can be opened from the current level with the target at 0.6422 and stop loss 0.6495. Implementation period: 1 day.

Long positions can be opened above the level of 0.6510 with the target at 0.6555 and stop loss the level of 0.6495. Implementation period: 1–2 days.

New Zealand Dollar vs US Dollar

BuySellSpread
0.681740.6814925

Scenario

TimeframeDay's Range
RecommendationsSELL
Entry Point0.6468
Take Profit0.6422
Stop Loss0.6495
Support levels0.6400, 0.6422, 0.6449, 0.6483, 0.6503, 0.6534, 0.6577, 0.6609, 0.6641, 0.6684, 0.6723

Alternative scenario

RecommendationsBUY STOP
Entry Point0.6515
Take Profit0.6555
Stop Loss0.6495
Support levels0.6400, 0.6422, 0.6449, 0.6483, 0.6503, 0.6534, 0.6577, 0.6609, 0.6641, 0.6684, 0.6723
NZD/USD: general analysis

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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