Annual Forecast for NZD/USD (2021): Kiwi Is Likely To Be Stronger Because of a High Interest Rate

Updated:

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

In January 2020, NZD/USD has an opening balance of 0.6733. However, the Kiwi has a breakdown in the first quarter of the year as price dropped to 0.5469. Immediately, the bulls buy the dips as the market resumed an upward move. In other words, the uptrend commenced in April and has continued to December. NZD/USD is trading at level 0.7111 at the time of writing.

NZD/USD – Monthly Chart

NZD/USD Price Prediction: Monthly Chart
A bullish trend line is drawn showing the support levels of the market. The current uptrend is presumed to be ongoing if the trend line remains unbroken. However, if the price breaks and closes below the trend line, it is assumed the current trend is terminated.

NZD/USD – Weekly Chart

NZD/USD Price Prediction: Weekly Chart
On this chart, the market is in a smooth uptrend. While in the upward move, the pair rebounded to break levels o.6400 and 0.6600 resistance levels to push on the upside. The current upward move is approaching a resistance zone.

Conclusion
The Kiwi is presently approaching the 2017 high of 0.7558. There is possibly a further upward move as the RSI is at level 60 which creates more room to rally. The New Zealand dollar is strong, because of its high-interest rates which makes it more profitable to invest, thereby lifting demand for your currency


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NZD/USD Falls After Facing Rejection at Level 0.7100

Updated:

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
The Kiwi has continued its upward move. Presently, the Kiwi is retracing after rejection at level 0.7100. The pair is in a downward move and it is approaching level 0.70413. The price has broken the 21-day SMA which suggests the downtrend will continue.

NZD/USD – Daily Chart

Daily Chart Indicators Reading:
The Kiwi has risen to level 54 of the Relative Strength Index period 14. It indicates that the pair is in the overbought region of the market. The 50-day SMA and 21-day SMA are sloping upwardly indicating the uptrend.

NZD/USD Medium-term Trend: Bearish
On the 4-hour chart, the NZD/USD pair has resumed its downward move. On November 20 downtrend; a retraced candle body tested 50% Fibonacci retracement level. The retracement indicates that the pair will fall to level 2.0 Fibonacci extensions.

NZD/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping upward. It indicates that the pair is in an uptrend. The Kiwi is above the 40% range of the daily stochastic. It indicates that the market is in a bullish momentum.

General Outlook for NZD/USD
The NZD/USD pair is in a downward move. It retested level 0.7100 to further decline. According to the Fibonacci tool analysis, the market will fall and reach a low of 0.6826.



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NZD/USD Continues Its Uptrend, Breaks Level 0.7000

Updated:

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
The Kiwi has continued its upward move. The Kiwi has broken the resistance at level 0.7100. A retraced candle body tested the 78.6% Fibonacci retracement level. The resistance indicates that the Kiwi will rise and reach the level of 1.272 Fibonacci extensions. The Kiwi is currently on an upward move.

NZD/USD – Daily Chart

Daily Chart Indicators Reading:
The Kiwi has risen to level 72 of the Relative Strength Index period 14. It indicates that the pair is in the overbought region of the market. 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 an upward move. The pair is revisiting the previous high of level 0.7150. The Kiwi was rejected in the previous uptrend.

NZD/USD – Daily Chart

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping upward. It indicates that the pair is in an uptrend. The Kiwi is above the 60% range of the daily stochastic. It indicates that the market is in a bullish momentum.

General Outlook for NZD/USD
The NZD/USD pair is in an uptrend and broken level of 0.7100. Kiwi may resume upward after a minor retracement. The Fibonacci tool has indicated the reversal of the currency pair.



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NZD/USD Resumes Uptrend After a Minor Retracement to Level 0.7000

Updated:

Key Resistance Levels: 0.6600, 0.6800, 0.7000
Key Support Levels: 0.6200, 0.6000, 0.5800

NZD/USD Price Long-term Trend: Bullish
NZD/USD is in an upward move. The pair rallied to level 0.7100 but faced rejection at the recent high. The Kiwi retraced and found support above level 0.7000. The support at level 0.7000 is likely to hold because of an indication of a candlestick with a long tail. The long tail is indicating that there is a strong buying pressure at level 0.7000.

NZD/USD -4 Hour Chart

Daily Chart Indicators Reading:
The Kiwi has risen to level 71 of the Relative Strength Index period 14. It indicates that the pair is approaching the overbought region of the market. 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 an upward move. On December 7 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The Kiwi will rise and reach level 2.0 Fibonacci extensions. That is the high of level 0.71216.

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping upward. It indicates that the pair is in an uptrend. The Kiwi is above the 40% range of the daily stochastic. It indicates that the market is in a bullish momentum.

General Outlook for NZD/USD
The NZD/USD pair has continued to rally as it reached the high of level 0.7100. The pair has resumed the upward move after a minor retracement. Nevertheless, the Fibonacci tool has that the Kiwi will rise and reach level 2.0 Fibonacci extensions. That is the high of level 0.71216.


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NZD/USD Retraces After Rejection at Level 0.7100, Upward Move Likely

Updated:

Key Resistance Levels: 0.6600, 0.6800, 0.7000
Key Support Levels: 0.6200, 0.6000, 0.5800

NZD/USD Price Long-term Trend: Bullish
NZD/USD is in an upward move. Since November 2, the pair has continued its rally as it reaches the high of 0.70659. The Kiwi has reached a high of level 0.7100 and it is currently facing rejection. The current selling pressure may extend to the low of level 0.7000 or 0.7010 before the resumption of an upward move.

NZD/USD – Daily Chart

Daily Chart Indicators Reading:
The Kiwi has fallen to level 70 of the Relative Strength Index period 14. It indicates that the pair is in the overbought region of the market. The 50-day SMA and 21-day SMA are sloping upwardly indicating the uptrend.

NZD/USD Medium-term Trend: Bullish
On the 1-hour chart, the NZD/USD pair has resumed a downward move. On December 4 downtrend; a retraced candle body tested the 78.6% Fibonacci level. The Kiwi will fall and reverse at level 1.272 Fibonacci extensions. That is the pair will reverse at level 0.7006.

NZD/USD – 1 Hour Chart

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping upward. It indicates that the pair is in an uptrend. The Kiwi is above the 20% range of the daily stochastic. It indicates that the market is in a bullish momentum.

General Outlook for NZD/USD
The NZD/USD pair is retracing after the rejection at level 0.7100. The upward move is likely to resume after the retracement. Nevertheless, the Fibonacci tool has indicated that the Kiwi will fall and reverse at level 1.272 Fibonacci extensions. That is the low of level 0.7006.


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NZD/USD Continues to Trend in the Overbought Region, Targets Level 0.7087

Updated:

Key Resistance Levels: 0.6600, 0.6800, 0.7000
Key Support Levels: 0.6200, 0.6000, 0.5800

NZD/USD Price Long-term Trend: Bullish
NZD/USD is in an upward move. Since November 2, the pair has continued its rally as it reaches the high of 0.70659. The Kiwi is trending as it reaches the overbought region of the market.

NZD/USD – Daily Chart

Daily Chart Indicators Reading:
The Kiwi has risen to level 70 of the Relative Strength Index period 14. It indicates that the pair is approaching the overbought region of the market. 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 an upward move. On December 1 uptrend; a retraced candle body tested the 50% Fibonacci level. The Kiwi will rise and reach level 2.0 Fibonacci extensions. That is the high of level 0.7087.

NZD/USD – 1 Hour Chart

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

General Outlook for NZD/USD
The NZD/USD pair has continued to rise as the pair reaches the overbought of the market. Nevertheless, the Fibonacci tool has that the Kiwi will rise and reach level 2.0 Fibonacci extensions. That is the high of level 0.70873.


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NZD/USD Still below sell zone

Updated:

The NZD/USD spiked earlier this week on massive retail sales growth (q/q) to trade above the 0.70 zone but bulls were not able to continue this move beyond this level.

Let’s talk about the sell zone for the kiwi against the US Dollar. The top of the zone is the highs made in early June 2018 before a -9.13% bearish move (-644 pips) and the highs between December 2018 and March 2019 before a -21.40% bearish move (-1496 pips).

At the same time the DXY (US Dollar Currency Index) is at a very oversold level and bouncing from the lows around the 92.00 level looking at a recovery rally even on this increase in risk appetite.

The Kiwi remains heavy here against all majors but a rally above the 0.7040 against the US Dollar would definitely invalidate this idea.

More so, price is retesting the current structure (orange), the sell zone and has hit very important short term bullish targets.

Levels to watch to the downside: 0.6800 & 0.6660

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