NZD/USD Breakout Brings Reversal!

NZD/USD Breakout Brings Reversal!

NZD/USD continues to stay near the downtrend line, at 0.7030 level. An upside breakout could signal an upside reversal.

The pair may continue to increase if the US Dollar Index resumes its downside movement after its temporary rebound. The United States inflation data could be decisive tomorrow. The CPI is expected to increase by 0.5%, while the Core CPI may increase by 0.2%.

In line with expectations data or better could help the USD to recover and dominate the currency market again. On the other hand, some poor figures could ruin the dollar and could send NZD/USD higher.

NZD/USD H4 Chart Analysis!

NZD/USD is pressuring the downtrend line after failing to come back towards the former lower lows. It’s traded at 0.7040 at the time of writing, a valid breakout above the downtrend line signals reversal.

The pair have confirmed the ascending pitchfork by retesting the lower median line (LML). So, a valid breakout above the downtrend line and a new higher high is seen as buying opportunity.

The support is seen at the weekly S1 (0.6995), while the resistance stands at the weekly R1 (0.7068).

Conclusion! 

An upside breakout above the downtrend line and through the R1 could represent a buying signal.

 

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NZD/USD Faces Rejection at Level 0.7050, May Resume Selling Pressure

NZD/USD Faces Rejection at Level 0.7050, May Resume Selling Pressure

Key Resistance Levels: 0.7000, 0.7200, 0.7400
Key Support Levels: 0.6200, 0.6000, 0.5800

NZD/USD Price Long-term Trend: Bearish
NZD/USD pair has been in a downward move but the Kiwi’s price is making an upward correction. The pair corrected upward to level 0.7050 resistance zone and was resisted. Since April 5, the upward move is facing rejection at the recent high. On March 5 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the Kiwi will fall to level 2.618 Fibonacci extension. That is the low of level 0.6781.

NZD/USD – Daily Chart

Daily Chart Indicators Reading:
The Kiwi is at level 43 of the Relative Strength Index period 14. It indicates that the pair is in the downtrend zone and below the centerline 50. The 50-day SMA and 21-day SMA are sloping downward.

NZD/USD Medium-term Trend: Ranging
On the 4-hour chart, the Kiwi has been in a range-bound move below level 0.7070. The pair is falling after retesting level 0.7060. On April 9 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that the Kiwi will fall to level 2.0 Fibonacci extension. That is the low of level 0.6955.

NZD/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The moving averages are sloping southward indicating the downtrend. The pair is below 60% range of the daily stochastic. The market is now in a bearish momentum.

General Outlook for NZD/USD
The NZD/USD pair is presently battling to break the resistance at level 0.7050. If the bulls are successful above the resistance, the Kiwi will resume an uptrend. However, the selling pressure will continue if Kiwi faces rejection at level 0.7050 resistance zone.

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NZD/USD Double Bottom To Be Activated!

NZD/USD Double Bottom To Be Activated!

NZD/USD seems ready to get out from a minor range signaling more gains ahead. The price action has developed a Double Bottom reversal pattern. So, the pair could come back higher in the short term.

The US data has come in mixed on Friday signaling that the USD could depreciate in the short term. It remains to see how the pair will react after today’s economic figures.

The ISM Services PMI, Factory Orders, and the Final Services PMI may bring high action. Some poor US data should send the pair higher.

NZD/USD H1 Chart Analysis!

It’s traded back above 0.7033 static resistance approaching the 0.7047 former high. A new higher high and a bullish closure above the R1 (0.7048) signals bullish momentum.

NZD/USD failed to stabilize under the pivot point and below the median line (ML) indicating strong buyers. The upside scenario could be invalidated by a drop below the S1 (0.7009).

Conclusion!

An upside breakout from the current range may activate a Double Bottom pattern. Stabilizing above the median line (ml) indicates strong buyers and further gains.

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NZD/USD Is Facing Rejection at Level 0.70330, May Resume Downward

NZD/USD Is Facing Rejection at Level 0.70330, May Resume Downward

Key Resistance Levels: 0.7000, 0.7200, 0.7400
Key Support Levels: 0.6200, 0.6000, 0.5800

NZD/USD Price Long-term Trend: Bearish
NZD/USD pair has been in a downward move since February 25. The price is making a series of lower highs and lower lows. Today, the Kiwi has fallen to the low 0.7030. On March 5 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the Kiwi will fall to level 2.618 Fibonacci extension . That is the low of level 0.6759.

NZD/USD – Daily Chart

Daily Chart Indicators Reading:
The Kiwi is at level 42 of the Relative Strength Index period 14. It indicates that the pair is in the downtrend zone and capable of falling. The 50-day SMA and 21-day SMA are sloping downward.

NZD/USD Medium-term Trend: Ranging
On the 4-hour chart, the Kiwi fell to level 0.6950 and resumed a range-bound movement. The pair is fluctuating between levels 0.6950 and 0.7030. The downtrend will resume if the current support is breached.

NZD/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The moving averages are sloping southward indicating the downtrend. The pair is above the 80% range of the daily stochastic. The market is likely to decline as price reaches the overbought region.

General Outlook for NZD/USD
The NZD/USD pair has corrected upward but will soon face rejection as the market reaches the overbought region. The stochastic indicator is in the overbought region of the market while the RSI is in the downtrend zone. The Kiwi is likely to fall.

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NZD/USD Continues Its Downward Move, a Drop To Level 0.6762 Likely

NZD/USD Continues Its Downward Move, a Drop To Level 0.6762 Likely

Key Resistance Levels: 0.7000, 0.7200, 0.7400
Key Support Levels: 0.6200, 0.6000, 0.5800

NZD/USD Price Long-term Trend: Bearish
NZD/USD pair has continued to fall on the downside. The pair faces another rejection at level 0.7300 resistance zone. On March 5 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the Kiwi will fall to level 2.618 Fibonacci extension . That is the low of level 0.6762.

NZD/USD – Daily Chart

Daily Chart Indicators Reading:
The Kiwi has fallen to level 36 of the Relative Strength Index period 14. It indicates that the pair is in the downtrend zone and it is approaching the oversold region. The 50-day SMA and 21-day SMA are sloping downward.

NZD/USD Medium-term Trend: Bearish
On the 4-hour chart, the market fell to level 0.7100 and resumed consolidation above it. The selling pressure resumed after a retest at level 0.7300. On March 4 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the pair will fall to level 2.618 Fibonacci extension. That is a low of level 0.6762.

NZD/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping southward indicating the downtrend. The Kiwi is above the 80% range of the daily stochastic. The pair has fallen to the overbought region of the market. It indicates that sellers may emerge in the overbought region.

General Outlook for NZD/USD
The NZD/USD pair is likely to continue the downward move. Presently, the pair is making an upward move to retest the previous highs. If price faces rejection at the recent high, the downtrend will resume. According to the Fibonacci tool, the market will decline to level 0.6762.
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NZD/USD Is Likely To Further Decline, Fail To Sustain Above Level 0.7300

NZD/USD Is Likely To Further Decline, Fail To Sustain Above Level 0.7300

Key Resistance Levels: 0.7000, 0.7200, 0.7400
Key Support Levels: 0.6200, 0.6000, 0.5800

NZD/USD Price Long-term Trend: Bearish
NZD/USD pair is making a series of lower highs and lower lows. On March 5 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the Kiwi will fall to level 2.618 Fibonacci extension . That is the low of level 0.6757.

NZD/USD – Daily Chart

Chart Indicators Reading:
The Kiwi has fallen to level 45 of the Relative Strength Index period 14. It indicates that the pair is in the downtrend zone. The 50-day SMA and 21-day SMA are sloping upwardly indicating the previous uptrend.

NZD/USD Medium-term Trend: Bearish
On the 4-hour chart, buyers pushed NZD/USD to reach the high of level 0.7450. The Kiwi faces another rejection. On March 5 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the pair will fall to level 2.618 Fibonacci extension. That is a low of level 0.6754.

NZD/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping horizontally. The Kiwi is below the 20% range of the daily stochastic. The pair has fallen to the oversold region of the market. It indicates that the market is a bearish momentum.

General Outlook for NZD/USD
The NZD/USD pair has fallen into the oversold region of the market. The price indicator has indicated a further decline of the Kiwi. According to the Fibonacci tool, the Kiwi will fall to level 2.618 or level 0.6764.


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NZD/USD Faces Rejection at Level 0.7200, May Further Decline To Level 0.7151

NZD/USD Faces Rejection at Level 0.7200, May Further Decline To Level 0.7151

Key Resistance Levels: 0.7000, 0.7200, 0.7400
Key Support Levels: 0.6200, 0.6000, 0.5800

NZD/USD Price Long-term Trend: Bearish
The Kiwi has been in a downward move. After the breakdown on February 26, the pair has corrected twice and has also fallen twice. On February 26 downtrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the Kiwi will fall to level 1.272 Fibonacci extension and reverse. That is the low of level 0.7151.

NZD/USD – Daily Chart

Chart Indicators Reading:
The Kiwi has fallen to level 45 of the Relative Strength Index period 14. It indicates that the pair is in the downtrend zone. The 50-day SMA and 21-day SMA are sloping upwardly indicating the previous uptrend.

NZD/USD Medium-term Trend: Bearish
On the 4-hour chart, the NZD/USD pair is in a downtrend. On March 11 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the pair will fall to level 2.618 Fibonacci extensions. That is a low of level 0.7095.

NZD/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping downward. The Kiwi is below the 40% range of the daily stochastic. It indicates that the market is a bearish momentum and has fallen and approached the oversold region of the market.

General Outlook for NZD/USD
The NZD/USD pair has reached bearish exhaustion. The selling pressure is likely to reach the low of level 0.7095 or 0.7151. According to the Fibonacci tool, the market will reverse at level 1.272 Fibonacci extension or level 0.7151.

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NZD/USD Has Fallen to the Oversold Region as Price Pulls Back to Level 0.7169

NZD/USD Has Fallen to the Oversold Region as Price Pulls Back to Level 0.7169

Key Resistance Levels: 0.7000, 0.7200, 0.7400
Key Support Levels: 0.6200, 0.6000, 0.5800

NZD/USD Price Long-term Trend: Bearish
The Kiwi was earlier in a downtrend. Today, the price has fallen and broken below the SMAs. The price action is indicating that a candlestick has a long tail. The long tail indicates that there is strong buying pressure at a lower price level. On February 26 downtrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the Kiwi will fall to level 1.272 Fibonacci extension and reverse.

NZD/USD – Daily Chart

Chart Indicators Reading:
The Kiwi has fallen to level 42 of the Relative Strength Index period 14. It indicates that the pair is in the downtrend zone. The 50-day SMA and 21-day SMA are sloping upwardly indicating the previous uptrend.

NZD/USD Medium-term Trend: Bearish
On the 4-hour chart, the NZD/USD pair is in a downtrend. On February 26 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the pair will fall to level 1.272 Fibonacci extensions. That is a low of level 0.7193.

NZD/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping downward. The Kiwi is below the 20% range of the daily stochastic. It indicates that the market is a bearish momentum and has fallen to the oversold region of the market.

General Outlook for NZD/USD
The NZD/USD pair has reached bearish exhaustion. The c current trend is likely to be exhausted as the price pulls back. According to the Fibonacci tool, the market will reverse at level 1.272 Fibonacci extension or level 0.7149

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NZD/USD Slumps to Level 0.7228 as Sellers Emerge at the Overbought Region

NZD/USD Slumps to Level 0.7228 as Sellers Emerge at the Overbought Region

Key Resistance Levels: 0.7000, 0.7200, 0.7400
Key Support Levels: 0.6200, 0.6000, 0.5800

NZD/USD Price Long-term Trend: Bearish
The Kiwi drops as sellers emerge in the overbought region. The market fell to the low of level 0.7228. If price finds support above the SMAs, the upward move will resume.

NZD/USD – Daily Chart

Daily Chart Indicators Reading:
The Kiwi has fallen to level 49 of the Relative Strength Index period 14. It indicates that there is a balance between supply and demand. The 50-day SMA and 21-day SMA are sloping upwardly indicating the uptrend.

NZD/USD Medium-term Trend: Bearish
On the 2-hour chart, the NZD/USD pair is in a downtrend. On February 26 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the pair will fall to level 1.272 Fibonacci extensions. That is a low of level 0.7193.

NZD/USD – 2 Hour Chart

2-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping downward. The Kiwi is below the 20% range of the daily stochastic. It indicates that the market is a bearish momentum and has fallen to the oversold region of the market.

General Outlook for NZD/USD
The NZD/USD pair has a sudden breakdown as the price reaches the level 0.7228. The price will continue to fall if the selling pressure breaks below the SMAs.

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NZD/USD Is Retracing as the Market Reaches an Overbought Region

NZD/USD Is Retracing as the Market Reaches an Overbought Region

Key Resistance Levels: 0.7000, 0.7200, 0.7400
Key Support Levels: 0.6200, 0.6000, 0.5800

NZD/USD Price Long-term Trend: Bullish
Since January 6, the Kiwi has been fluctuating between levels 0.7100 and 0.7300. The pair have been trying to move up but faces resistance at the recent high. The market is likely to move up after some retracement.

NZD/USD – Daily Chart

Daily Chart Indicators Reading:
The Kiwi has risen to level 62 of the Relative Strength Index period 14. It indicates that the pair is in an uptrend zone. The 50-day SMA and 21-day SMA are sloping upwardly indicating the uptrend.

NZD/USD Medium-term Trend: Bullish
On the 4-hour chart, the NZD/USD pair has resumed upward. On February 9 uptrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the pair will rise to level 1.272 Fibonacci extensions. That is a high of level 0.7341.

NZD/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping upward. The Kiwi is above the 80% range of the daily stochastic. It indicates that the market is a bullish momentum and has reached the overbought region of the market.

General Outlook for NZD/USD
The NZD/USD pair is still fluctuating between levels 0.7100 and level 0.7300. The price is yet to break out of this range. Presently, the Kiwi is retracing from the recent high. The upward move will resume after a minor resistance.

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$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.