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 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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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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NZD/USD in a Sideways Trend, May Resume Selling Pressure

26 July 2021 | Updated: 26 July 2021

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 is in a downward move. On June 18, the pair fell to the low of level 0.6922 and resumed a sideways move. The currency pair has been fluctuating between 0.6890 and $0.7050 for the past month. The Kiwi is likely to further decline as price corrects up to level 0.7100.
Meanwhile, on June 18 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the market will fall to level 1.618 Fibonacci extension or level 0.6728.

NZD/USD – Daily Chart

Daily Chart Indicators Reading:
The Kiwi has fallen to level 46 of the Relative Strength Index period 14. The pair is in the downtrend zone and below the centerline 50. The 21-day SMA and 50-day SMA are sloping southward indicating the downtrend.

NZD/USD Medium-term Trend: Bearish
On the 4-hour chart, the Kiwi price is in a sideways move. The pair is fluctuating between levels 0.6940 and 0.70000. The current price movement is facing rejection at level 0.7000. The pair has fallen below the moving which indicates further downsides.

NZD/USD – 4 Hour Chart

4-hour Chart Indicators Reading
NZD/USD is above the 80% range of the daily stochastic. It indicates that the pair has reached the overbought region of the market. Sellers are likely to emerge to push prices down. The 21-day and 50-day SMAs are sloping horizontally indicating the sideways trend.

General Outlook for NZD/USD
The NZD/USD pair is now in a sideways trend. The currency pair is now trading between 0.6890 and $0.7050. The pair is likely to fall to the lower price range as price bars are below the moving averages.


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NZD/USD Resumes Selling Pressure, Attempts to Break Level 0.6922

19 July 2021 | Updated: 19 July 2021

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 is in a downward move. The downtrend resumed after the rejection at level 0.7300. Following the breakdown on June 18, the bears are yet to break level 0.6922 of June 18. Instead, the price has been fluctuating above the previous low. A break below the previous low will increase the chances of further decline. Meanwhile, on June 18 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the market will fall to level 1.618 Fibonacci extension or level 0.6922.

NZD/USD – Daily Chart

Daily Chart Indicators Reading:
The Kiwi has fallen to level 42 of the Relative Strength Index period 14. The pair is in the downtrend zone and below the centerline 50. The 21-day SMA and 50-day SMA are sloping southward indicating the downtrend.

NZD/USD Medium-term Trend: Bearish
On the 4-hour chart, the Kiwi price broke below the moving averages to resume a downward move. Meanwhile, on July 9 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the market will fall to level 2.618 Fibonacci extensions or level 0.6732. From the price action, the Kiwi has fallen to level 0.6949.

NZD/USD – 4 Hour Chart

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

General Outlook for NZD/USD
The NZD/USD pair is in a downward move. The pair will have an accelerated movement as it breaks below the moving averages. According to the Fibonacci tool, the currency pair will fall either to level 0.6922 or 0.6731.


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Kiwi Dollar Pushes Up as the Reserve Bank of New Zealand Cuts Short Stimulus Supply

16 July 2021 | Updated: 16 July 2021

There was a report by the Reserve Bank of New Zealand that stated that it has effectively reduced its 100 billion New Zealand Dollar Covid-19 stimulus bond purchase program with immediate effect. This report made the New Zealand Dollar, (affectionately known as the Kiwi Dollar), increase in value. It is believed that this will eventually lead to an increase in interest rates soon.

Reserve Bank of New Zealand Stimulus Project for the COVID-19 Pandemic

The Reserve Bank of New Zealand has put appropriate measures in place when the Covid-19 was beginning to ravage the country. By March 2020, the measures that had been put in place included a NZD $100 billion worth of stimulus package. Large sums of money were pumped into the economy and the interest rates were drastically reduced.

A bond purchase program was also set up whose goal was to buy up New Zealand Government Bonds with the NZD $100 billion by June 2020. As a result, there was a success in curtailing the Covid-19 pandemic earlier than anticipated. The economy has also been helped by the housing boom and much spending on retail goods by citizens. This has enabled New Zealand’s economy to be revived faster than many countries.

In May 2021, the RBNZ held a meeting in which possibilities were suggested of an increase in interest rate by next year September. Adrian Orr, the governor of the RBNZ, however, says employment and inflation goals come first before tightening policies.

Reserve Bank of New Zealand Effect of the Report on the New Zealand Dollar

The RBNZ, whose official cash rate is still at 0.25%, is therefore taking into consideration the clamor of local banks for an earlier than expected rise of the interest rate.

The report caused an increase in the price of the New Zealand Dollar. It moved up by 1.1% to reach $0.7017.

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NZD/USD Faces Further Rejection at Level 0.7050, Downtrend Is Likely

12 July 2021 | Updated: 12 July 2021

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 is in a downward move. The currency pair plunged to $0.6923 low after rejection from level 0.7300 overhead resistance. The pair was repelled thrice before the downward move At the downward correction, the price corrected upward but faced rejection at level 0.7050 Meanwhile, on June 21 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the market will fall to level 1.618 Fibonacci extension or level 0.67325.

NZD/USD – Daily Chart

Daily Chart Indicators Reading:
The Kiwi has fallen to level 43 of the Relative Strength Index period 14. The pair is in the downtrend zone and below the centerline 50. The 21-day SMA and 50-day SMA are sloping horizontally indicating the sideways trend.

NZD/USD Medium-term Trend: Bearish
On the 4-hour chart, the Kiwi price is in a downward move. The pair were repelled twice at level 0.7100. Meanwhile, on July 9 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the market will fall to level 2.618 Fibonacci extensions or level 0.6807.

NZD/USD – 4 Hour Chart

4-hour Chart Indicators Reading
NZD/USD is above the 40% range of the daily stochastic. It indicates that the pair is in a bullish momentum but has reached the overbought region of the market. The market upward move is likely to subside. The 21-day and 50-day SMAs are sloping downward.

General Outlook for NZD/USD
The NZD/USD pair is likely to decline as it faces rejection at the recent high. Besides, the pair is in the overbought region of the market. This will cause the currency pair to fall on the downside. According to the Fibonacci tool, the currency pair will fall either to level 0.6807 or 0.6731.

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NZD/USD May Resume Selling Pressure, Faces Rejection at Level 0.7037

5 July 2021 | Updated: 5 July 2021

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 is in a downward move. The currency pair has been facing rejection from the 0.73 overhead resistances. For instance, on May 28, NZD/USD pair was rejected as the downtrend resumed. After the rejection, the market declines to level 0.6922 and corrected upward.
Meanwhile, on June 18 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the market will fall to level 1.618 Fibonacci extension or level 0.6731.

NZD/USD – Daily Chart

Daily Chart Indicators Reading:
The Kiwi has fallen to level 43 of the Relative Strength Index period 14. The pair is in the downtrend zone and below the centerline 50. The 21-day SMA and 50-day SMA are sloping horizontally indicating the sideways trend.

NZD/USD Medium-term Trend: Bearish
On the 4-hour chart, the Kiwi price has been making a series of lower highs and lower lows. On July 2, the bears failed to break the previous low at level 0.6924 as the market corrected upward. Meanwhile, on July 2 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that the market will fall to level 2.0 Fibonacci extensions or level 0.6807.

NZD/USD – 4 Hour Chart

4-hour Chart Indicators Reading
NZD/USD is above the 80% range of the daily stochastic. It indicates that the pair is in a bullish momentum but has reached the overbought region of the market. The market upward move is likely to subside. Sellers are likely to emerge in the overbought region to push prices down.The 21-day and 50-day SMAs are sloping downward.

General Outlook for NZD/USD
The NZD/USD pair is likely to decline as it faces rejection at the recent high. Besides, the pair is in the overbought region of the market. This will cause the currency pair to fall on the downside. According to the Fibonacci tool, the currency pair will fall either to level 0.6807 or 0.6731.

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NZD/USD Unable to Break Level 0.7100, Selling Pressure Likely

28 June 2021 | Updated: 28 June 2021

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 is in a downward move. The pair is making upward correction. The correction is facing resistance at the recent high. Meanwhile, on June 18 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the market will fall to level 1.618 Fibonacci extension or level 0.6731.

NZD/USD – Daily Chart

Daily Chart Indicators Reading:
The Kiwi has risen to level 45 of the Relative Strength Index period 14. The pair is in the downtrend zone and below the centerline 50. The 21-day SMA and 50-day SMA are sloping horizontally indicating the sideways trend.

NZD/USD Medium-term Trend: Bearish
On the 4-hour chart, the Kiwi corrected upward but it is facing rejection. If it falls below the moving averages, the selling pressure will be accelerated. Meanwhile, on June 18 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that the market will fall to level 2.0 Fibonacci extensions or level 0.6607.

NZD/USD – 4 Hour Chart

4-hour Chart Indicators Reading
NZD/USD is below the 80% range of the daily stochastic. It indicates that the pair is a bearish momentum. The currency pair is likely to decline. In the meantime, the 21-day and 50-day SMAs are sloping downward.

General Outlook for NZD/USD
The NZD/USD pair is correcting upward. The Kiwi will resume selling pressure if it faces rejection at the recent high. According to the Fibonacci tool, the pair is likely to fall on the downside. The decline is likely to level 0.6600 or 0.6700.



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$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
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$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 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
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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
  • 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

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.