NZDUSD Analysis – December 4
NZDUSD traders could change the price setup as buyers are more likely to be opposed at the 0.64500 key zone. The buyers have been making a desirous effort to push the buying activity forward. However, based on technical analysis, the 0.64500 significant level has proven to be a vital level that may be difficult to penetrate. Nevertheless, if buying momentum increases, there are more possibilities of buyers breaking through in the coming days.
NZDUSD Key Zones
Resistance Levels: 0.64500, 0.69600
Support Levels: 0.60960, 0.55500
NZDUSD Long-Term Trend – Bullish
The past few weeks have been a healthy run for the buyers of the currency pair. The bulls look so solid and ready to penetrate the market. Even as late as December 2022, buyers had actively begun their run. However, buyers are still optimistic about price recovery beyond the 0.64500 key zone. The buildup for a bullish moment began after selling efforts dropped to the 0.55500 key zone in October 2022. As the price prepared to break back into the descending channel, buying strength continued to extend forward.
At the end of November 2022, the buyers successfully broke over the upper level of the descending channel. The bulls are currently on their way back to the 0.64500 key zone. However, there could be a change in price order flow as prices continue to build up. The RSI (Relative Strength Index) has maintained its overbought streak as buyers continue to extend forward. However, the momentum indicator and the parabolic SAR (stop and reverse) indicator are still on the bullish side. This still implies that there is still hope for buyers to push further.
NZDUSD Short-Term Trend: Bullish
The 4-hour chart shows a different picture, with sellers already threatening bearish action. The momentum strength is currently declining as the price is still trading close to the 0.64500 significant level. Sellers are currently fighting back to reduce market activity. Therefore, the NZDUZD could either drop lower due to difficulty buying at the 0.64500 key zone. However, an influx of bullish tendencies could help buyers surpass the 0.64500 key zone.
You can purchase Lucky Block here. Buy LBLOCK
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.