NZD/USD: general analysis

OANDA:NZDUSD   紐元 / 美元
55 0
Current trend

Yesterday in the evening after FOMC Minutes release, the volatility on the market rapidly grew. USD strengthened against all the main currencies due to the growth of 10-year government bonds’ yield to 2.95%.

NZD is weakening against US currency, but the pair is quite stable – the instrument is trading above the level of 0.7300, despite the slowing of the growth of Credit Card Spending index, which reached 4.6% against 6.3% in the last month.

Today the traders are focused on Initial Jobless Claims release in the USA at 15:30 (GMT+2) and New Zealand Retail Sales publication at 23:45 (GMT+2).

Support and resistance

On the 4-hour chart, the pair is going down along the lower border of Bollinger Bands . MACD histogram is in the negative zone, its volumes are gradually increasing, and the signal line crosses the zero line and the histogram’s body downwards, giving a signal to open short positions.

Resistance levels 0.7330, 0.7360, 0.7380, 0.7400.

Support levels: 0.7305, 0.7280, 0.7250, 0.7230, 0.7200.

Trading tips

Short positions can be opened at the level of 0.7300 with the target at 0.7250 and stop loss 0.7330. Implementation period: 1–3 days.

Long positions can be opened at the level of 0.7370 with the target at 0.7420 and stop loss 0.7340. Implementation period: 3–5 days.

New Zealand Dollar vs US Dollar

Buy Sell Spread
0.73314 0.73288 26


Timeframe Day's Range
Recommendations SELL STOP
Entry Point 0.7300
Take Profit 0.7250
Stop Loss 0.7330
Support levels 0.7200, 0.7230, 0.7250, 0.7280, 0.7305, 0.7330, 0.7360, 0.7380, 0.7400

Alternative scenario

Recommendations BUY STOP
Entry Point 0.7370
Take Profit 0.7420
Stop Loss 0.7340
Support levels 0.7200, 0.7230, 0.7250, 0.7280, 0.7305, 0.7330, 0.7360, 0.7380, 0.7400
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