NZD/USD, H4

On H4 chart, there is a downward correction, the instrument is traded near the lower border of Bollinger Bands, the price range is expanded, which indicates a possible continuation of the downward movement after the correction. MACD histogram is in the negative zone keeping a signal for the opening of short positions. Stochastic is in the neutral zone, and the lines of the oscillator are moving horizontally.

NZD/USD, D1

On D1 chart, the lateral trend is still in effect, the instrument is traded within the corridor formed by borders of Bollinger Bands. MACD histogram is near the zero level, and its volume is minimal. Stochastic crosses the border of the oversold zone from above, forming a signal to open buy orders.

Key levels

Support levels: 0.6752, 0.6719, 0.6650, 0.6612, 0.6590.

Resistance levels: 0.6792, 0.6813, 0.6827, 0.6851, 0.6870, 0.6892, 0.6903.

Trading tips

According to technical indicators, in the short term, short positions could be opened from the level of 0.6750 with the target at 0.6700 and stop loss at 0.6780.

Long positions may be opened from the level of 0.6800 with the target at 0.6850 and stop loss at 0.6770.

Implementation period: 1-3 days.

New Zealand Dollar vs US Dollar

BuySellSpread
0.687930.6873954

Scenario

TimeframeDay's Range
RecommendationsSELL STOP
Entry Point0.6750
Take Profit0.6700
Stop Loss0.6780
Support levels0.6590, 0.6612, 0.6650, 0.6719, 0.6752,0.6792, 0.6813, 0.6827, 0.6851, 0.6870, 0.6892, 0.6903

Alternative scenario

RecommendationsBUY STOP
Entry Point0.6800
Take Profit0.6850
Stop Loss0.6770
Support levels0.6590, 0.6612, 0.6650, 0.6719, 0.6752,0.6792, 0.6813, 0.6827, 0.6851, 0.6870, 0.6892, 0.6903
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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