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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NZDUSD Bears Are Making a Pullback as the Bullish Market Continues

30 August 2021 | Updated: 30 August 2021

NZDUSD Price Analysis – August 29

NZDUSD bears are making a significant pullback as the market is rallying upward. Before breaking out, the price initially broke through the 0.70200 resistance key level. However, the market entered a bearish trend after breaking through the major key levels of 0.69500 and 0.69000. Following that, the price reversed at the 0.68000 support key level, implying a bullish market.


NZDUSD Significant Zones

Resistance Level: 0.70200, 0.69500
Support Level: 0.69000, 0.68000

NZDUSD bears are makingNZDUSD Long Term Trend: Bullish

The market then continued to rise, breaking past old resistance levels before retesting the 0.69500 key level. NZDUSD then continued to rise towards 0.70200. Price will either break through this level before retesting, or a pullback will occur around this level. This suggests that the market will have a short-term downtrend before the bullish momentum resumes. On the daily chart, the Parabolic SAR (Stop and Reverse) displays downward trend dots. This demonstrates that the market’s general tendency is bearish, despite prices rising upward.

However, the MACD (Moving Average Convergence and Divergence) indicator shows an increase in the green histogram. This indicates that the bullish market is still in command. Below the zero level, there appear to be crossovers between the signal lines and the moving average. This also accurately describes a bullish market scenario.

NZDUSD Short Term Trend: Bullish

On the 4-hour chart, the price retested the 0.69500 key level many times. As a result of this accumulation, the market then went higher towards the 0.7200 level. However, there are price responses around this level. NZDUSD may either break out and then fall back, or it may plummet and then pull back.
NZDUSD bears are makingThe parabolic SAR displays dots below the most recent higher low. As the market rallies upward, this indicates bullish momentum. On the MACD histogram, the green formation continues to grow. This also provides a clear explanation of the bullish market.

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NZDUSD Is Likely to Continue a Downtrend and Pullbacks Are Unavoidable

23 August 2021 | Updated: 24 August 2021

NZDUSD Price Analysis – August 23

NZDUSD is likely to continue a downtrend as it appears to be trading above the 0.6800 significant level. The downtrend is perceived to be strong due to a range of consolidations. This consolidation is between the 0.70300 resistance key level and the 0.6900 support level. Because of this accumulation, the breakout is likely to fall beyond the 0.6800 level, which, because of previous price reactions in this zone, is acting as a support.


NZDUSD Significant Zone

Resistance level: 0.70300, 0.69500
Support level: 0.6900, 0.6800

NZDUSD is likely

NZDUSD Long Term Trend: Bearish

However, even though the price is at the 0.6800 significant zone, there is some pressure from buyers of the currency pair. A possible continuation of the market’s rise in currency levels is possible. Therefore, as we anticipate a downtrend continuation, we should also expect a pullback. This pullback will occur below 0.6900, or after a breakout below 0.6800, which is a significant level. This zone will now serve as a vital resistance zone. When the price retraces back to this level, the downtrend is likely to continue.

The NZDUSD market is likely to remain bullish for a while before resuming its downtrend. Even though the price is in a bear market, the bulls are reacting to the market environment. In the daily chart, the Stochastic Oscillator produces a golden cross just above the 0.00 level. Therefore, this implies that the market will most likely move in a bullish direction before resuming its downtrend continuation.

NZDUSD is likely

NZDUSD Short Term Trend: Bullish

On the 4-hour chart, the market has entered a quiet phase, and the NZDUSD appears to be consolidating. The bulls are gathering some momentum for a pullback. The Parabolic SAR (Stop and Reverse) indicator shows new uptrend dots, indicating a retracement. Also, the Stochastic Oscillator shows multiple crosses in the oversold region. However, this means that the price will almost certainly retrace back to 0.6900 before the NZDUSD market resumes its downtrend movement. We anticipate a pullback followed by a downtrend continuation.

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Weekly Support Holds Firm to Deny NZDUSD Bears

16 August 2021 | Updated: 16 August 2021

NZDUSD Price Analysis – August 16

NZDUSD weekly support has stood firm to deny the bears. The market has been primed for a drop, but after several days, the price has been denied the opportunity to go lower. Two major weekly support zones have been responsible for directing the movement of the market – the 0.71560 and the 0.69510 support zones. Price dropped below the 0.71560 support after 43 trading days of persistence in going lower.


NZDUSD Key Level

Resistance Levels: 0.70570, 0.71240
Support Levels: 0.69510, 0.69170

NZDUSD weekly supportNZDUSD Long Term Trend: Bearish

The market dropped to the 0.69510 support zone with a bearish impulse. While it broke the upper border of the support zone, it didn’t make it past the lower border at 0.69170 before it was repelled. Price bounced up and retested the zone, but it had the same result for the next two consecutive times. On the 20th of July, after bouncing up again, NZDUSD bore down with a force that pierced through the zone, but buyers recovered above the support.

Thereafter, there were two other tests, which were well dealt with by the support. After a total of 40 trading days, the market is now gradually lifting itself back up. The Parabolic SAR (Stop and Reverse) has indicated a direction change since the 26th of July 2021. The MACD (Moving Average Convergence Divergence), however, has its histogram bars reduced despite the price moving upwards. This means there is a convergence of its Moving-Averages lines, which shows an imminent change in direction. Price could test the weekly support again with much greater intensity from this level.

NZDUSD weekly support NZDUSD Short Term Trend: Bearish

On the 4-hour chart, the market is tapering down into a symmetrical triangle chart pattern. As price moves closer to the tip of the triangle, there is going to be a breakout, which is most likely to the downward side. Sellers will make use of this pattern to test the 0.69510 weekly support again. The MACD shows undulating reducing bars to show the tapering nature of the market.

NZDUSD will once again test the 0.69510 support zone to break below it to reach 0.68500.

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NZDUSD to Go Bullish After It Breaks and Retests the Descending Triangle

9 August 2021 | Updated: 9 August 2021

NZDUSD Price Analysis – August 9

NZDUSD breaks and retests its descending triangle to confirm bullish market tendencies. The market has been tapering down its triangle formation for the past two and a half months. During this period, there was a tough battle for supremacy between buyers and sellers, and the market could have gone either way. To this effect, the market experienced premature piercings at the upper and lower borders by long and sharp daily candle wicks.

 

Key Levels

Resistance Levels: 0.74600, 0.73000, 0.71300

Support Levels: 0.69400, 0.67800, 0.66000

NZDUSD breaks and retestsNZDUSD Long Term Trend: Bullish

The 0.69400 support has been very influential in keeping price in favor of the bulls. The price support level forms a larger consolidation zone with 0.73000 acting as the barrier to the upside. NZDUSD has been undulating within this range since last year, with the market taking turns spending time on the upper and then the lower half of the confinement. By the 16th of June, the market had dropped to the lower half and began forging into a descending triangle.

Eventually, bulls popped the market to the upside of the triangle and it breaks out. Price has now turned back. It retests the upper border of the triangle in a bid to shoot higher. The MA period 10 (Moving Average), which has hitherto been moving along a straight part, has bent itself upwards to acknowledge the market’s change in direction. The blue line of the Stochastic Oscillator, which plunged at the oversold mark, has bent upwards at the tip as the market for a spring up.

NZDUSD breaks and retestsNZDUSD Short Term Trend: Bullish

Bulls are currently on the prowl with the price trading at around 0.70179. A long bullish candle can already be seen on the 4-hour chart bouncing up from the upper border of the descending triangle. The Stochastic Oscillator presents a very enticing long position for traders. Its signal lines, which show speed and market momentum, are just pushing up out of the oversold region.

A continuation of bullish momentum will lift the market to 0.71300 with the prospect of eventually reaching 0.73000.

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NZD/USD Continuation Pattern Activation!

3 August 2021 | Updated: 3 August 2021

NZD/USD is trading in the green at 0.7012 at the moment of writing. It has decreased a little today but the bulls are still strong as the DXY is bearish. The pair could register sharp movements during the week as the US is to release high-impact data.

Technically, the price action has signaled that the downside movement is over and that NZD/USD could develop a new swing higher. The US Factory Orders could bring life on this pair later today. Worse than expected figures could lift NZD/USD.

NZD/USD Technical Analysis!

NZD/USD has retested the 50% Fibonacci line and now it tries to resume its growth. As you can see on the H4 chart, the pair has retested the broken downtrend line trying to confirm the upside breakout.

Stabilizing above 0.7 psychological level and making a new higher high could signal further growth. The R1 (0.7026) is seen as static resistance, but I really believe that closing above 0.7009 could bring an upside breakout through R1 as well.

Conclusion!

Closing and stabilizing above 0.7009 may signal further growth ahead. The 50% retracement level is seen as a potential upside target.

 

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Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms.