Current trend

This week, the pair is trading within a limited price range of 0.6515–0.6570. Yesterday, the NZD/USD pair strengthened moderately after the publication of poor on US housing prices statistics. On Wednesday, the trading instrument dropped insignificantly due to a reduction in the number of Building Permits.

Today at 14:15 (GMT+2), ADP Nonfarm Employment Change release will be published in the United States.

Support and resistance

On the 4-hour chart, the instrument is trading at the top of Bollinger bands, testing the support level of 0.6540. The indicator is directed upwards, and the price range is expanding, which is the basis for strengthening the pair. MACD histogram keeps a weak buy signal. Stochastic is preparing to enter the oversold area, a buy signal can be formed during the day.

Resistance levels: 0.6584, 0.6609, 0.6641, 0.6676.

The levels of support: 0.6540, 0.6528, 0.6503, 0.6476, 0.6449, 0.6424.

Trading tips

Long positions can be opened from the current level with the target at 0.6585 and stop loss 0.6515. Implementation period: 1 day.

Short positions can be opened below the level of 0.6525 with the target at 0.6475 and stop loss 0.6545. Implementation period: 1–2 days.

New Zealand Dollar vs US Dollar

BuySellSpread
0.682710.6824625

Scenario

TimeframeDay's Range
RecommendationsBUY
Entry Point0.6538
Take Profit0.6585
Stop Loss0.6515
Support levels0.6424, 0.6449, 0.6476, 0.6503, 0.6528, 0.6540, 0.6584, 0.6609, 0.6641, 0.6676

Alternative scenario

RecommendationsSELL STOP
Entry Point0.6520
Take Profit0.6475
Stop Loss0.6545
Support levels0.6424, 0.6449, 0.6476, 0.6503, 0.6528, 0.6540, 0.6584, 0.6609, 0.6641, 0.6676
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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