NZD/USD: general analysis

OANDA:NZDUSD   紐元 / 美元
66 0
Current trend

Yesterday the NZD/USD pair grew due to the suspending of US federal offices work, while the market reaction was quite restrained. However, if the government does not return to a normal operating mode in the nearest future, the pair can strengthen to the level of 0.7500. The situation reflects the high level of political uncertainty and prevents Fed from planned actions.

As there is lack of key macroeconomic event in both counties, the traders are focused on the Republicans and Democrats negotiations, and the key issues are the growth of federal budget spending and increasing of the government debt. Tomorrow US Markit PMI releases are worth traders’ attention at 16:45 (GMT+2).

Support and resistance

On the 4-hour chart, the instrument was corrected to the upper border of Bollinger Bands . The indicator is pointed upwards, as the price range is widening, reflecting the development of the upward trend. MACD histogram is in the positive zone, keeping strong buy signal. Stochastic has left the overbought area and forms a sell signal.

Resistance levels: 0.7340, 0.7350, 0.7370, 0.7400.

Support levels: 0.7190, 0.7220, 0.7235, 0.7260, 0.7295, 0.7310.

Trading tips

Long positions can be opened above the level of 0.7310 with the target at 0.7370 and stop loss 0.7290. Implementation period: 1–2 days.

Short positions can be opened below the level of 0.7291 with the targets at 0.7235, 0.7255 and stop loss 0.7305. Implementation period: 1–2 days.

New Zealand Dollar vs US Dollar

Buy Sell Spread
0.73286 0.73261 25


Timeframe Day's Range
Recommendations BUY
Entry Point 0.7317
Take Profit 0.7370
Stop Loss 0.7290
Support levels 0.7190, 0.7220, 0.7235, 0.7260, 0.7295, 0.7310, 0.7340, 0.7350, 0.7370, 0.7400

Alternative scenario

Recommendations SELL STOP
Entry Point 0.7285
Take Profit 0.7235, 0.7255
Stop Loss 0.7305
Support levels 0.7190, 0.7220, 0.7235, 0.7260, 0.7295, 0.7310, 0.7340, 0.7350, 0.7370, 0.7400
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