NZD/USD Is in Sideways Trend, 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 New Zealand Dollar is in an uptrend. However, in June the market is in a sideways trend. 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, the 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 in a sideways move. The market is currently in a sideways trend. The Kiwi has risen to level 55 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: Ranging
The Kiwi is in a sideways trend. Since June 11, the pair has been trading between level 0.64000 and level 0.65000. In the meantime, the pair is failing and approaching the lower price range. Nonetheless, if the lower price range holds, a buy order will follow.

NZD/USD – 4 Hour Chart

4-hour Chart Indicators Reading
Presently, the 21-day SMA and 50-day SMA are slowing upward. It indicates that the pair is in a sideways move. The pair is above 40% range of the daily stochastic. The market is in a bullish momentum. The market is expected to rise.

General Outlook for NZD /USD
The Kiwi is still in a sideways move. The price has fallen to a lower price range. The price is expected to reverse at the lower price range and move up. A long order is expected to be initiated.

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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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.