NZDUSD Races Back to a Key Significant Level

Updated:

NZDUSD Price Analysis – October 19

NZDUSD races back to a key significant key level in a bullish market. Kiwi continues to amass maximum strength by pushing the price upward. The market accelerated, breaking through an important key level of 0.69800 before advancing upward. The sellers dropped from the 0.71500 price level down to the 0.68600 significant price level. The bears scantily pushed the market as the buyers also tried to tussle with them in the consolidation.


NZDUSD Significant Key Levels:

Resistance Key Levels: 0.73000, 0.71500
Support Key Levels: 0.69800, 0.68600

NZDUSD races backNZDUSD Long Term Trend: Bullish

NZDUSD, on the other hand, was seen consolidating between the significant price levels of 0.7300 and 0.71500. The sellers then took over the position, gaining more bearish strength by drawing the price movement downward. The momentum is then shared between the bears and the bulls as the price is seen consolidating between 0.71500 and 0.68600 significant price levels.

In the consolidation, the market waves sideways despite being in an overall bearish trend. Kiwi is now gaining bullish momentum and therefore racing upward. The RSI (Relative Strength Index) on the 1day chart displays price movement above the 50.00 level. The price, therefore, is assumed to be racing upward with bullish strength.

NZDUSD races back NZDUSD Short Term Trend: Bullish

On the 4-hour chart, the market is seen rising with bullish momentum. Kiwi pushed up with a long bullish candlestick after breaking the 0.69800 significant price level. The MACD (Moving Average Convergence and Divergence) indicator shows price action above the 0.00 level. The green histogram keeps increasing as the price races upward in a bullish trend. The RSI also makes a significant approach as NZDUSD continues to push forward. NZDUSD is, therefore, expected to move up to the 0.73000 significant key and even break beyond this price level.

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.