On the daily chart, the pair is trading just underneath its long-term trendline and in the upper Bollinger band. The price remains on the level with the EMA130 and EMA65, both directed horizontally. The RSI turned up as it failed to retest its longer MA. The Composite shows identical dynamics. The pair is in consolidation.

NZD/USD: technical analysis


On the 4-hour chart, the pair is growing towards the upper MA of Bollinger Bands as it broke out the middle MA of the indicator. The price remains above its moving averages that turned up. The RSI is testing its MA’s as it failed its strong support above the 40 mark. The Composite is about to break out its MA’s.

NZD/USD: technical analysis

Key levels

Support levels: 0.6592 (December lows), 0.6561 (local lows), 0.6483 (active trade)

Resistance levels: 0.6747 (local highs), 0.6828 (61.8% Fibonacci retracement), 0.6881 (December highs).

Trading tips

Short positions can be opened from the level of 0.6560 with the target at 0.6485 and stop-loss at 0.6595. Validity – 1-2 days.

Long positions can be opened from the level of 0.6755 with targets at 0.6828, 0.6861 and stop-loss at 0.6707. 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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