NZD/USD Fluctuates Between Levels 0.64000 and 0.65000

NZD/USD Fluctuates Between Levels 0.64000 and 0.65000

Key Resistance Levels: 0.64000, 0.65000, 0.66000
Key Support Levels: 0.58000, 0.57000, 0.56000

NZD /USD Long-term Trend: Bullish
The Kiwi is in an uptrend as it breaks level 0.62000. A correction candle body tested the 0.786 retracement level. This indicates that the market will reach a high of 1.272 extension level. The Kiwi will rise and reverse at the 1.272 extension level. When the market reverses, price will return to 0.786 retracement level. However, the reversal may not be immediate.

NZD/USD – Daily Chart

Daily Chart Indicators Reading:
The SMAs are sloping upward indicating the uptrend. The SMAs have a bullish crossover. The Kiwi has risen to level 57 of the Relative Strength Index. This indicates that the pair is in the uptrend and also above the centerline 50. The pair is likely to rise.

NZD /USD Medium-term Trend: Bullish
The Kiwi is in an ascending channel. The pair is currently retracing after which the upward move will resume. The downtrend has reached the low of level 0.064050. The price will further depreciate to level 0.63930 before the resumption of the uptrend.

NZD/USD – 4 Hour Chart

4-hour Chart Indicators Reading
Presently, the 21-day SMA and 50-day SMA are slowing horizontally indicating the sideways move. The pair is above 40% range of the daily stochastic. The market is in a bullish momentum.


General Outlook for NZD /USD
The Kiwi is in an uptrend. However, in June the market is moving a sideways trend. The market fluctuates between level 0.64000 and 0.65000 in June.

Note:  Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

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