NZD/USD, D1

On the daily chart, the instrument consolidated below the strong support level of 0.6740. Bollinger bands are directed sideways, and the price range is limited, the continuation of the downward trend looks like the most likely scenario. MACD histogram is being corrected in the neutral zone, the signal to enter the market has not formed. Stochastic entered the oversold area, a signal for opening buy positions can be formed within 1–2 days.

NZD/USD, H4

On the 4-hour chart, the instrument is trading at the bottom of Bollinger bands. Key support is the level of 0.6710. The indicator is directed downwards, and the price range is unchanged, confirming the downward trend. MACD histogram is in the negative zone, keeping a sell signal. Stochastic does not give a signal to enter the market.

Key levels

Resistance levels: 0.6742, 0.6773, 0.6848, 0.6884.

Support levels: 0.6709, 0.6675, 0.6646, 0.6606.

Trading tips

Short positions can be opened from the current level with the target at 0.6645 and stop loss 0.6755. Implementation period: 1–2 days.

Long positions can be opened above the level of 0.6755 with the target at 0.6810 and stop loss 0.6725. Implementation period: 1–3 days.

New Zealand Dollar vs US Dollar

BuySellSpread
0.669040.6687133

Scenario

TimeframeDay's Range
RecommendationsSELL
Entry Point0.6713
Take Profit0.6645
Stop Loss0.6755
Support levels0.6606, 0.6646, 0.6675, 0.6709, 0.6742, 0.6773, 0.6848, 0.6884

Alternative scenario

RecommendationsBUY STOP
Entry Point0.6760
Take Profit0.6810
Stop Loss0.6725
Support levels0.6606, 0.6646, 0.6675, 0.6709, 0.6742, 0.6773, 0.6848, 0.6884
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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