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
The Kiwi has resumed a downward move after rejection from level 0.7300. The pair fell to level 0.7100 and corrected upward. The downward move has resumed after breaking below level 0.7200. The price has broken below 21-day SMA and a break below 50-day SMA will accelerate price movement.
Daily Chart Indicators Reading:
The Kiwi has fallen to level 49 of the Relative Strength Index period 14. It indicates that there is a balance between supply and demand. The 50-day SMA and 21-day SMA are sloping upwardly indicating the uptrend.
NZD/USD Medium-term Trend: Bearish
On the 4-hour chart, the NZD/USD pair is now in a downtrend. On January 11 downtrend; a retraced candle body tested 50% Fibonacci retracement level. The retracement indicates that the pair will fall to level 2.0 Fibonacci extension. That is a low of level 0.6979.
4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping downward. The Kiwi is below the 20% range of the daily stochastic. It indicates that the market has fallen into the oversold region. The kiwi is in a strong bearish momentum.
General Outlook for NZD/USD
The NZD/USD pair is in a downward move. The price has broken below the SMAs which signal a downward movement of the pair. According to Fibonacci tool analysis, the pair will fall to level 2.0 Fibonacci extension or 0.6779 low.
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.