NZD/USD, D1

On the D1 chart, the pair is trading between the middle and the lower lines of Bollinger Bands; the price range is widened, which indicates a possible continuation of the downtrend. MACD histogram is in the negative zone, the signal line is crossing the body of the histogram from above which is a sign for opening short positions. Stochastic is crossing the border of the overbought area from below.

NZD/USD, H4

On the H4 chart the instrument is groin the direction of the upper line of Bollinger Bands. MACD histogram is in the negative zone, gradually reducing its volume. Stochastic is about to leave the overbought area, the oscillator lines are reversing downwards.

Key levels

Support levels: 0.6900, 0.6880, 0.6850, 0.6830.

Resistance levels: 0.6920, 0.6935, 0.6950, 0.6975, 0.7000.

Trading tips

According to the technical indicators, opening of short positions from the level of 0.6880 with the target at 0.6830 and stop-loss at 0.6910 is preferable.

Long positions may be opened from the level of 0.6935 with target at 0.7000. Stop-loss — 0.6900.

Implementation period: 1-3 days.

New Zealand Dollar vs US Dollar

BuySellSpread
0.681880.6816325

Scenario

TimeframeDay's Range
RecommendationsSELL STOP
Entry Point0.6880
Take Profit0.6830
Stop Loss0.6910
Support levels0.6830, 0.6850, 0.6880, 0.6900, 0.6920, 0.6935, 0.6950, 0.6975, 0.7000

Alternative scenario

RecommendationsBUY STOP
Entry Point0.6935
Take Profit0.7000
Stop Loss0.6900
Support levels0.6830, 0.6850, 0.6880, 0.6900, 0.6920, 0.6935, 0.6950, 0.6975, 0.7000
NZD/USD: technical 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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