NZD/USD, D1

On the D1 chart the instrument broke through the bottom line of Bollinger Bands, continuing the decline; the price range is expanded. MACD histogram is in the negative zone, its volumes are increasing, and the signal line is reversing downwards. Stochastic is in the oversold zone and is directed horizontally.

NZD/USD, H4

On the H4 chart, the instrument is declining along the bottom line 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 forming a signal for opening short positions. Stochastic is in the oversold zone and the signal line is reversing upwards.

Key levels

Resistance levels: 0.6639, 0.6690, 0.6715, 0.6745, 0.6800, 0.6850, 0.6880.

Support levels: 0.6572, 0.6500, 0.6426, 0.6344, 0.6225.

Trading tips

According to technical indicators, short positions could be opened from the current level with target at 0.6500 and stop loss at 0.6600.

Long positions may be opened from the level of 0.6650 with target at 0.6745. Stop loss — 0.6600.

Implementation period: 2-5 days.

New Zealand Dollar vs US Dollar

BuySellSpread
0.680320.67912120

Scenario

TimeframeWeekly
RecommendationsSELL
Entry Point0.6599
Take Profit0.6500
Stop Loss0.6600
Support levels0.6225, 0.6344, 0.6426, 0.6500, 0.6572, 0.6639, 0.6690, 0.6715, 0.6745, 0.6800, 0.6850, 0.6880

Alternative scenario

RecommendationsBUY STOP
Entry Point0.6650
Take Profit0.6745
Stop Loss0.6600
Support levels0.6225, 0.6344, 0.6426, 0.6500, 0.6572, 0.6639, 0.6690, 0.6715, 0.6745, 0.6800, 0.6850, 0.6880
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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