NZDUSD Cuts Across Consolidation Space to Move Above a Critical Supply Level

25 October 2021 | Updated: 25 October 2021

NZDUSD Price Analysis – October 24

NZDUSD cuts across its consolidation space to break into the upper consolidation zone. The market finally breaks above the 0.71560 critical supply line. This happens as the price surges directly from the demand level at 0.69510. It took just six days for NZDUSD to rise from the lower end of the consolidation zone to break the upper end of the consolidation zone. In doing this, the price rose by 4.42%.


NZDUSD Key Zones

Supply Levels: 0.71240, 0.71560
Demand Levels: 0.69510, 0.69910


NZDUSD Long Term Trend: Bullish

The market’s movement from the beginning of the year has been in different phases of consolidation. Price surged up and found some footholds around the 0.70570 key level. From here, the market sprung higher, retesting 0.71560 as it climbed higher. The supply line at 0.73200 thereafter set a limit to the increase in price (though it was breached once), while 0.71560 acted as support from below. After consolidating for a while, NZDUSD cut across the consolidation space to break downward.

The initial support level at 0.71560 thereafter became the supply level and 0.69510 acted as the demand line for a lower consolidation zone. The market begins alternating between the lower and the higher consolidation zone. Eventually, the market accumulated in the lower consolidation zone. Recently, the ATR (Average True Range) indicator shows there has been an increase in market volatility which has shaken both consolidation borders. Eventually, price cuts across the supply level, climbing upward.


NZDUSD Short Term Trend: Bullish

The market is currently in a retracement phase after a surge up from the 0.69510 demand level. The market took a breather at 0.70570, retesting the level before climbing further. After breaking through 0.71560, the price is returning for a pullback. It has dropped slightly below 0.71560 but is finding good footing on the 50% Fibonacci level.

The market might eventually drop further to the 61.80% Fib level, from which point the price is expected to surge higher to continue its consolidation in the upper zone.

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NZDUSD Races Back to a Key Significant Level

20 October 2021 | Updated: 20 October 2021

NZDUSD Price Analysis – October 19

NZDUSD races back to a key significant key level in a bullish market. Kiwi continues to amass maximum strength by pushing the price upward. The market accelerated, breaking through an important key level of 0.69800 before advancing upward. The sellers dropped from the 0.71500 price level down to the 0.68600 significant price level. The bears scantily pushed the market as the buyers also tried to tussle with them in the consolidation.


NZDUSD Significant Key Levels:

Resistance Key Levels: 0.73000, 0.71500
Support Key Levels: 0.69800, 0.68600

NZDUSD races backNZDUSD Long Term Trend: Bullish

NZDUSD, on the other hand, was seen consolidating between the significant price levels of 0.7300 and 0.71500. The sellers then took over the position, gaining more bearish strength by drawing the price movement downward. The momentum is then shared between the bears and the bulls as the price is seen consolidating between 0.71500 and 0.68600 significant price levels.

In the consolidation, the market waves sideways despite being in an overall bearish trend. Kiwi is now gaining bullish momentum and therefore racing upward. The RSI (Relative Strength Index) on the 1day chart displays price movement above the 50.00 level. The price, therefore, is assumed to be racing upward with bullish strength.

NZDUSD races back NZDUSD Short Term Trend: Bullish

On the 4-hour chart, the market is seen rising with bullish momentum. Kiwi pushed up with a long bullish candlestick after breaking the 0.69800 significant price level. The MACD (Moving Average Convergence and Divergence) indicator shows price action above the 0.00 level. The green histogram keeps increasing as the price races upward in a bullish trend. The RSI also makes a significant approach as NZDUSD continues to push forward. NZDUSD is, therefore, expected to move up to the 0.73000 significant key and even break beyond this price level.

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NZDUSD Bounces Higher After a Strong Reaction Against Sellers

18 October 2021 | Updated: 18 October 2021

NZDUSD Price Analysis – October 17

NZDUSD bounces higher after reacting strongly against the sellers. The bears tried to pin the market down to the weekly support. This initially made the price drill lower to 0.68800, but it recovered immediately back to the 0.69150 support. At this level, the market reacted strongly against the bulls, by displaying a series of candlesticks showing indecision and market reversal. Eventually, NZDUSD bounces higher from the weekly support.


NZDUSD Key Levels

Resistance Levels: 0.72260, 0.71300, 0.70900
Support Levels: 0.69150, 0.68800, 0.68080

NZDUSD bounces higherNZDUSD Long Term Trend: Bearish

NZDUSD continues in a consolidation movement between significant levels as the price bounces up from a support level. This ranging movement began on June 16th, when price dropped from a higher consolidation zone into this zone. However, a strong reaction from the sellers to forcefully breakout was tempered at the 0.68080 significant level, but this also sparked a reaction of equal measure from buyers, in which it had to take 0.71300 to keep the price at bay.

The price then fell again before rebounding from the parallel channel’s middle line. The market retests the 0.70900 resistance and then drops lower with much volatility, to around 0.68800. NZDUSD rallies at this point, but sellers try to pin it down. A strong reaction at 0.69150 helped the price bounce higher. The Average True Range indicator shows there is usually more volatility when the market falls. But buyers have done well to fight off bearish pressure. After hitting the 0.70900 resistance, the price could be on its way down again.

NZDUSD bounces higher NZDUSD Short Term Trend: Bearish

The market has started reacting to the resistance level at 0.70900 with consecutive short reversal candlesticks. At this point, market volatility has dropped very low on the ATR chart. This is even as the RSI (Relative Strength Index) has climbed high into the overbought region, which is a sign of imminent reversal.

The market is likely to continue its ranging pattern by dropping off to the support level at 0.69150.

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NZDUSD Fails to Make Any Significant Moves Over the Past Trading Week

11 October 2021 | Updated: 11 October 2021

NZDUSD Price Analysis – October 11

NZDUSD fails to make any significant moves over the past trading week. Price remains in a bearish territory within the weekly support zone. An undulating movement sees the market touch down on the support at 0.68650 by the end of September. Following that, the price bounced back up to the 0.69910 resistance, where it failed. Price then dropped back to around 0.68650 on Wednesday last week. The market is making efforts to rally again.


NZDUSD Critical Zones

Resistance Levels: 0.69910, 0.70570
Support Levels: 0.69510, 0.68650

NZDUSD fails to make NZDUSD Long Term Trend: Bullish

NZDUSD has continued its cranking movement between significant levels. Price rose to 0.71560 on the 3rd of September, where it was rejected. Subsequently, the market fell to 0.68650, where price has failed to make any significant movement. The market is currently trading around 0.69294 and remains bullish in outlook. However, NZDUSD is struggling to break upward of the 0.69510 key level and NZDUSD remains generally indecisive.

In previous cases, we have seen price pushed up from this support zone, and this is likely to work again in the bulls’ favour. The RSI (Relative Strength Index) indicator shows the market has been under the dominance of the bears at 42.45, but the tip of the signal line is now facing upward, which shows that buyers may have started working on the market. The Parabolic SAR (Stop and Reverse) echoes this sentiment by placing three dots already below the daily candles to signify price reversal.

NZDUSD fails to make NZDUSD Short Term Trend: Bullish

On the 4-hour chart, NZDUSD had made a steady rise into the 0.69510 key zone, but it fails to get past it. However, bullish momentum is building, and price has retested the zone’s base for a second attempt at breaking through the level. The RSI indicator shows its signal line reacting along the mid-level line of 50 to show the bulls trying to wrest power off the sellers. The Parabolic SAR further confirms upward movement. If the price breaks out, the next level of achievement would be 0.69910.

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NZDUSD Retests a Significant Level; Price Is Poised to Continue Rising.

4 October 2021 | Updated: 4 October 2021

NZDUSD Price Analysis – October 4

NZDUSD retests a key level as it makes a reversal back upwards. The market had fallen to the support at 0.69910, in which price retests the level a couple of times before dashing through it downward. The intensity of price drop also allowed the market to easily bypass the 0.69510 and 0.69170 levels. However, on getting to the 0.68650 key level, NZDUSD was forced to reverse as bulls stepped into the market. Price now faces the major task of breaking through the 0.69510 resistance.


NZDUSD Key Zones

Resistance Zones: 0.69510, 0.69910, 0.70570
Support Zones: 0.69170, 0.68650, 0.68100

NZDUSD retestsNZDUSD Long Term Trend: Bullish

Price embarked on a bullish spree after it touched down at 0.68100. The market then retests the 0.69510 and 0.69910 key levels on its way upward. Eventually, after climbing to the 0.71560 price level on the 3rd of September, NZDUSD was rejected. Price, however, remained below the 0.71240 key level, where it kept trying to punch its weight. After a short period of persistence, NZDUSD began a swift decline.

The market found temporary support at 0.69910, before dropping further till the market fell to and reversed at 0.68650. The bulls have regained the market and are trying to push it up. The market faces a major obstacle at 0.69510. The Stochastic Oscillator is in support of the upward movement of price though, as it has made an upward cross from the oversold region, meaning a price increase is imminent.

NZDUSD retests NZDUSD Short Term Trend: Bullish

On the 4-hour chart, as the market climbs up, it retests the 0.69170 level before breaking through it upward. Price has now hit a stiff barrier at 0.69510 to prevent it from going up. However, the MA period 10 (Moving Average) has aligned itself below the 4-hour candles to act as support. The Stochastic Oscillator, though, has crossed downward in the overbought zone. This just signals that the market will retrace, probably to 0.69170 before it resumes its rally.

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NZDUSD Is Disallowed From Climbing Above Transition Zone

27 September 2021 | Updated: 27 September 2021

NZDUSD Price Analysis – September 26

NZDUSD is disallowed at the 0.71560 key level from passing the transition zone to the upper half of its general consolidation zone. This, therefore, brings an end to the market rally that began on the 23 of August from the 0.68101 demand level. The market hit a sharp rejection after rising to reach 0.71560, and the price was forced to stay below the transition zone at 0.71240, from which it launched occasional trials to breakthrough. But after a while, the price eventually dropped.


NZDUSD Key Zones

Demand Zones: 0.70570, 0.71240, 0.71560
Supply Zones: 0.69910, 0.69510, 0.69170

NZDUSD is disallowedNZDUSD Long Term Trend: Ranging

Price ranges in the upper consolidation from 0.73200 to 0.71560 before a transition zone separates the lower consolidation zone at 0.70570 to 0.69510. Having fallen to the lower-ranging phase on the 15th of June 2021, the market has continued to range, but bears have regained the upper hand in the market. Eventually, it was sellers that tried to pull the price below the ranging zone. This caused the price to drop to 0.68101.

This, however, sparked a backlash from the buyers, who immediately embarked on a rally from there to pump the market to the upper ranging zone. However, the 0.71560 key level disallowed the price from moving upward. After 9 days of intense struggling, NZDUSD dropped. The market, on the other hand, found stability at 0.69910, where price has been attempting to rally again, but the market is currently only moving sideways.

NZDUSD is disallowedNZDUSD Short Term Trend: Ranging

Having disallowed the price from dropping below it, the 0.69910 level now acts as a demand level to spark off a short-term ranging phase with the 0.70570 key level as resistance. Therefore, NZDUSD has continued to undulate through the zone. The market shows more potential to break downwards towards 0.69510 as the Parabolic Stop and Reverse indicator places more dots above the range than below it. The Moving Average Convergence Divergence lines have also crossed the zero mark and each other downward, accompanied by bearish bars.

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NZDUSD Faces a Downslide After Failing to Transition to the Upper Range Zone

20 September 2021 | Updated: 20 September 2021

NZDUSD Price Analysis – September 20

NZDUSD faces a downslide after suffering severe rejection at the 0.71560 transition zone. Buyers had pumped the market up in retaliation to the price plunging below a consolidation phase that had lasted for weeks. The rally pulled price from the 0.68101 key level and drove it beyond the 0.70570 resistance. NZDUSD continued to rise until it reached the 0.71560 transition zone, where it failed to gain ground.


NZDUSD Key Levels

Resistance Levels: 0.70570, 0.71560
Support Levels: 0.69510, 0.68101

NZDUSD faces a downslide NZDUSD Long Term Trend: Bearish

A consolidation phase at the upper ranging zone lasted for 44 days, after which price fell below the 0.71560 transition zone on the 15th of June 2021. The market immediately stabilized itself on the 0.69510 base, which extends to 0.69170. NZDUSD then commenced another ranging movement with 0.70570 acting as a lid from above to confine the market. After much wrangling, bears pushed the market out of consolidation and down to 0.68101.

From here price sprung through the consolidation zone to reach the transition zone where it faces strong resistance. After 9 trading days of struggling, bulls gave up and price began declining. All indications at this level points to the bearish dominance of the market. The MA period 9 (Moving Average) has taken a downward curve above the daily candles. Likewise, the Stochastic Oscillator has taken a huge plunge from the overbought region to the selling half

NZDUSD faces a downslide NZDUSD Short Term Trend: Bearish

Since clashing with the transition zone resistance at 0.71560, price has been dropping consistently, making a continuous lower low and high. Price has now dropped below the 0.70570 key level. Currently, the market is trading around 0.70313 and is presenting a bullish candle. NZDUSD could rise back to retest 0.70570, which would nonetheless create a new lower high. The Stochastic Oscillator has crossed each other in the oversold region and confirms an upward move for a retest. Price is expected to drop further after retesting at 0.70570.

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NZDUSD Will Continue to Fall as the Bears Keeps Pushing Price Downward

13 September 2021 | Updated: 13 September 2021

NZDUSD Price Analysis – September 12

NZDUSD will continue to fall as the price keeps making a downward movement. The price retested the 0.71620 resistance zone before bouncing back to the 0.70740 support zone. There appears to be a bullish rejection as the price continues to respond to the 0.71620 key level. Sellers have now stepped in to take the price downward. The market is expected to reach the key level of 0.70740 before breaking past it.

NZDUSD Significant Levels

Resistance Levels: 0.73160, 0.72070, 0.71620
Support Levels: 0.70740, 0.69000, 0.68000

NZDUSD will continue to fallNZDUSD Long Term Trend: Bearish

The NZDUSD market began consolidating as there appears to be price reluctance. Before the consolidation period, the price initially broke through the key level of 0.70740. However, the price reached its greatest high of 0.73160 before resuming its downward trend. As the market continues to fall precipitously, there appears to be a big pullback around the 0.72070 and 0.71620 key levels before reaching the 0.69000 support level.

However, a reversal happened at this level, and the market subsequently ranged between 0.70740 and 0.69000 important key levels before falling lower to 0.68000 significant key levels. The market subsequently had a bullish recovery, rallying back to 0.71620, but is now set to resume falling. As the Stochastic Oscillator indicator indicates a golden cross around 80.00, the price movement is likely to return to 0.70740, which will push the price into the overbought region. This indicates that the sellers are now in ascendancy.

NZDUSD will continue to fall NZDUSD Short Term Trend: Bearish

On the 4-hour chart, the price is shown ranging after a bullish rise with higher lows and highs. The Bollinger Band depicts price movement along with the middle band when the price is expected to fall. The Stochastic Oscillator indicator also shows price falling as it approaches the 0.70740 critical level.

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NZDUSD setting up for Bullish Continuation

9 September 2021 | Updated: 9 September 2021

Key Support: 0.7075
Key Resistance: 0.7175 – 0.7250

The NZDUSD has been trading with real bullish momentum since it bottomed back in August 20th at the 0.68 level (+5.39% from low to high).
This move created a clean breakout of the previous base at the 0.7115 level and retesting the overall bearish structure.

Price has now pulled back to retest the previous broken highs. The important thing here is that those highs are the previous 2 month’s highs.

My bias is bullish here since that break is clean and price has broken with the immediate bullish flag.

More so because the DXY is rejecting the 92.80 level in a pullback structure to continue its bearish move.

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NZDUSD Is Set to Lose Its Bullish Momentum as Price Tends to Pull Back

6 September 2021 | Updated: 6 September 2021

NZDUSD Price Analysis – September 5

NZDUSD is set to lose its bullish momentum as sellers continue to add more pressure to the market. There has been a market shift as price begins to consolidate between the significant key levels of 0.73160 and 0.71620. Price then broke through the 0.71620 significant level, indicating that the bears were in control, before reversing at the 0.69000 support key level.


NZDUSD Significant Zone

Resistance Levels: 0.73160, 0.77060, 0.70650
Support Levels: 0.68000, 0.69000, 0.71620

NZDUSD is set to loseNZDUSD Long Term Trend: Bearish

Following that, the NZDUSD began to consolidate once more. However, as the price accumulated between the key levels of 0.70650 and 0.69000, there is little momentum between the bulls and bears at this point. The market then broke lower, continuing its bearish trend before reversing upward. After a reversal at the 0.68000 significant zone, the NZDUSD now tends to rise. Price then appears to lose its bullish momentum as the market appears to be pulling back.

However, the Stochastic Oscillator indicator on the 1-day chart shows a golden cross above the 100 level. This indicates that there has been a change in price direction. This is due to a decrease in bullish momentum, and the price is set to pull back. The MACD (Moving Average Convergence and Divergence) indicator indicates an uptrend because the signal lines are above the zero level. This implies that the current bullish market is likely to pull back before resuming its momentum.

NZDUSD is set to lose NZDUSD Short Term Trend: Bearish

The market is clearly in an uptrend on the 4-hour chart, with higher lows and highs. As the bulls continue to push the price higher, the bears add pressure, causing retracements. As the green histogram rises, the MACD line rises above the zero level. In the overbought region, Stochastic Oscillators above 100 indicate a change in price direction.

Price is expected to fall back to 0.70650 as the market loses its bullish momentum.

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  • 20% welcome bonus of upto $10,000
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  • The Lowest Trading Costs
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$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
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$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
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$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
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$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.