On the daily chart, the pair is growing towards the upper MA of Bollinger Bands. The price remains above the EMA130, EMA65 that start turning up. The RSI is growing towards its beginning of the month resistance and remains in the Bullish zone. The Composite, however, is about to test its most recent support. MA’s for both indicators suggest a strength of the market.

NZD/USD: technical analysis


On the 4-hour chart, the pair bounced off the middle MA of Bollinger Bands and moving up. The price remains above its moving averages, all directed up. The RSI is moving towards its last week resistance as it reversed in the Bullish zone. The Composite demonstrates similar dynamics. 

NZD/USD: technical analysis

Key levels

Support levels: 0.6712 (EMA130), 0.6689 (local lows), 0.6643 (active trade).

Resistance levels: 0.6781 (local highs), 0.6864 (October highs), 0.6986 (June highs).

Trading tips

Long positions can be opened from the level of 0.6788 with the target at 0.6850 and stop-loss at 0.6760. Validity – 1-2 days.

Short positions can be opened below the level of 0.6700 with the target at 0.6645 and stop-loss at 0.6723. Validity – 1-2 days.

Materials published on this page are provided by LiteForex for informational purposes only and should not be construed as investment advice or advice for the purposes of 2004/39/EC Directive. In addition, these materials have not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the further distribution of investment research.

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