NZD/USD Is In A Sideways Move Below Level 0.7250 Resistance
Login

NZD/USD Is In A Sideways Move Below Level 0.7250 Resistance

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

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: Ranging
NZD/USD pair is in an upward move to retest or break level 0.7250. On March 17, buyers pushed the price to a high of level 0.7250 and were repelled. The Kiwi fell to level 0.6950 and resumed a fresh uptrend. The current uptrend is likely to face rejection at the resistance zone. On the upside, if the bulls break level 0.7250, the currency pair will rise to retest the overhead resistance at level 0.7450.

NZD/USD – Daily Chart

Daily Chart Indicators Reading:
The Kiwi is at level 57 of the Relative Strength Index period 14. It indicates that the pair is in the uptrend zone and above the centerline 50. The 50-day SMA and 21-day SMA are sloping horizontally indicating the sideways move.

NZD/USD Medium-term Trend: Bullish
On the 4-hour chart, the Kiwi is rising and approaching the 0.7220 resistance zone. Since April 19, buyers have been attempting to break above the 0.7220 resistance. On April 19 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the Kiwi will rise to level 1.272 Fibonacci extension. That is the high of level 0.7217.

NZD/USD – 3 Hour Chart

3-hour Chart Indicators Reading
The pair is above the 50% range of the daily stochastic. It indicates that the market is in a bullish momentum. The 21-day and 50-day SMA s are sloping upward indicating the uptrend.

General Outlook for NZD/USD
The NZD/USD pair is range-bound below level 0.7250 resistance. The pair has broken above the moving averages which suggests a further upward movement of price. For the past week, the bulls have been attempting to break the resistance at 0.7220.

.
You can purchase crypto coins here: Buy Coins

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

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News