NZD/USD, D1

On the daily chart, the instrument is trading near the lows since February 2016. The key support is the level of 0.6530. Bollinger bands reversed sideways, and the price range remains unchanged, confirming the correction of the downward trend. MACD histogram is in the negative area, holding a strong sell signal. Stochastic leaves the oversold area, forming a strong buy signal.

NZD/USD, H4

On the 4-hour chart, the instrument is testing the support level of 0.6580. Bollinger bands are reversing sideways, the price range remains wide enough, indicating the continuation of intraday correction. MACD histogram is in the negative zone, keeping the sell signal. Stochastic left the overbought area, forming a strong sell signal.

Key Levels

Resistance levels: 0.6627, 0.6662, 0.6702, 0.6736, 0.6789, 0.6848, 0.6893.

Support levels: 0.6580, 0.6560, 0.6531.

Trading tips

Long positions can be opened above the level of 0.6585 with the target at 0.6630 and stop loss 0.6570.

Short positions can be opened below the level of 0.6570 with the target at 0.6530 and stop loss 0.6585.

Implementation period: 1 day.

New Zealand Dollar vs US Dollar

BuySellSpread
0.668840.66764120

Scenario

TimeframeDay's Range
RecommendationsBUY STOP
Entry Point0.6590
Take Profit0.6630
Stop Loss0.6570
Support levels0.6531, 0.6560, 0.6580, 0.6627, 0.6662, 0.6702, 0.6736, 0.6789, 0.6848, 0.6893

Alternative scenario

RecommendationsSELL STOP
Entry Point0.6565
Take Profit0.6530
Stop Loss0.6585
Support levels0.6531, 0.6560, 0.6580, 0.6627, 0.6662, 0.6702, 0.6736, 0.6789, 0.6848, 0.6893
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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