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 pair is making a series of lower highs and lower lows. On March 5 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the Kiwi will fall to level 2.618 Fibonacci extension . That is the low of level 0.6757.
Chart Indicators Reading:
The Kiwi has fallen to level 45 of the Relative Strength Index period 14. It indicates that the pair is in the downtrend zone. The 50-day SMA and 21-day SMA are sloping upwardly indicating the previous uptrend.
NZD/USD Medium-term Trend: Bearish
On the 4-hour chart, buyers pushed NZD/USD to reach the high of level 0.7450. The Kiwi faces another rejection. On March 5 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the pair will fall to level 2.618 Fibonacci extension. That is a low of level 0.6754.
4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping horizontally. The Kiwi is below the 20% range of the daily stochastic. The pair has fallen to the oversold region of the market. It indicates that the market is a bearish momentum.
General Outlook for NZD/USD
The NZD/USD pair has fallen into the oversold region of the market. The price indicator has indicated a further decline of the Kiwi. According to the Fibonacci tool, the Kiwi will fall to level 2.618 or level 0.6764.
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
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
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.