Current trend

The US dollar showed mixed dynamics in relation to the NZD during the trading session on Monday due to the weak data on income and expenditure of individuals in the United States. Incomes of individuals decreased to 0.2% in September from 0.4% a month earlier. Individual expenses decreased to 0.4% in September from 0.5% a month earlier. Today, the New Zealand dollar shows a positive trend, largely due to positive data from China, after statements by the regulator to increase liquidity and withdraw more long-term capital to the market.

As for the macroeconomic events that could have an impact on the instrument today, it is worth highlighting the housing price index S&P/CaseShiller (15:00 GMT+2), moderate volatility is expected in the market.

Support and resistance

On the 4-hour chart, the instrument grows in the direction of the upper border of the Bollinger Bands indicator; the price range is expanded, which indicates a likely continuation of the upward movement. The MACD histogram is near zero, its volumes are minimal.

Support levels: 0.6537, 0.6495, 0.6464, 0.6440, 0.6425.

Resistance levels are 0.6568, 0.6610, 0.6645, 0.6698, 0.6719.

Trading tips

Long positions can be opened at the current price with a target at 0.6610 and a stop loss at 0.6520.

Short positions will become relevant at 0.6510 with a target at 0.6465 and a stop loss at 0.6540.

Implementation period: 1-3 days.

New Zealand Dollar vs US Dollar



TimeframeDay's Range
Entry Point0.6542
Take Profit0.6610
Stop Loss0.6520
Support levels0.6425, 0.6440, 0.6464, 0.6495, 0.6537, 0.6568, 0.6610, 0.6645, 0.6698, 0.6719

Alternative scenario

RecommendationsSELL STOP
Entry Point0.6510
Take Profit0.6465
Stop Loss0.6540
Support levels0.6425, 0.6440, 0.6464, 0.6495, 0.6537, 0.6568, 0.6610, 0.6645, 0.6698, 0.6719
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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