NZDUSD Is Disallowed From Climbing Above Transition Zone

27 September 2021 | Updated: 27 September 2021

NZDUSD Price Analysis – September 26

NZDUSD is disallowed at the 0.71560 key level from passing the transition zone to the upper half of its general consolidation zone. This, therefore, brings an end to the market rally that began on the 23 of August from the 0.68101 demand level. The market hit a sharp rejection after rising to reach 0.71560, and the price was forced to stay below the transition zone at 0.71240, from which it launched occasional trials to breakthrough. But after a while, the price eventually dropped.


NZDUSD Key Zones

Demand Zones: 0.70570, 0.71240, 0.71560
Supply Zones: 0.69910, 0.69510, 0.69170

NZDUSD is disallowedNZDUSD Long Term Trend: Ranging

Price ranges in the upper consolidation from 0.73200 to 0.71560 before a transition zone separates the lower consolidation zone at 0.70570 to 0.69510. Having fallen to the lower-ranging phase on the 15th of June 2021, the market has continued to range, but bears have regained the upper hand in the market. Eventually, it was sellers that tried to pull the price below the ranging zone. This caused the price to drop to 0.68101.

This, however, sparked a backlash from the buyers, who immediately embarked on a rally from there to pump the market to the upper ranging zone. However, the 0.71560 key level disallowed the price from moving upward. After 9 days of intense struggling, NZDUSD dropped. The market, on the other hand, found stability at 0.69910, where price has been attempting to rally again, but the market is currently only moving sideways.

NZDUSD is disallowedNZDUSD Short Term Trend: Ranging

Having disallowed the price from dropping below it, the 0.69910 level now acts as a demand level to spark off a short-term ranging phase with the 0.70570 key level as resistance. Therefore, NZDUSD has continued to undulate through the zone. The market shows more potential to break downwards towards 0.69510 as the Parabolic Stop and Reverse indicator places more dots above the range than below it. The Moving Average Convergence Divergence lines have also crossed the zero mark and each other downward, accompanied by bearish bars.

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
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!

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.