Current trend
Yesterday and today the pair showed a slight increase. At the same time, NZD remains weak after RBNZ's "pigeon" comments on monetary policy.
Market participants expected strengthening of USD position on Monday, as there were signed agreements on the financing of the US government. However, President Trump made a number of budget proposals for 2019, while ignoring the deficit problem, and at the end of the day, the USD closed with a slight decrease against the majors.
Today, market participants will focus on the speech of Fed member Loretta Meister at 16:00 (GMT+2).
Support and resistance
On H4 chart the instrument is testing the resistance level of 0.7285. Bollinger Bands are reversing upwards, while the price range remains unchanged which is a reason for the preservation of the upward trend. MACD histogram is corrected near zero line. Stochastic is preparing to enter the overbought area, so a strong sell signal can be formed in the next few hours.
Support levels: 0.7128, 0.7158, 0.7190, 0.7231, 0.7252.
Resistance levels: 0.7285, 0.7340, 0.7373, 0.7419.
Trading tips
Long positions may be opened above the level of 0.7300 with the target at 0.7350 and stop-loss at 0.7275. Implementation time: 1 day.
Short positions may be opened from the level of 0.7225 with the target at 0.7160 and stop-loss at 0.7260. Implementation time: 1-2 days.
New Zealand Dollar vs US Dollar
Buy Sell Spread
0.72903 0.72876 27
Scenario
Timeframe Day's Range
Recommendations BUY STOP
Entry Point 0.7310
Take Profit 0.7350
Stop Loss 0.7275
Support levels 0.7128, 0.7158, 0.7190, 0.7231, 0.7252, 0.7285, 0.7340, 0.7373, 0.7419
Alternative scenario
Recommendations SELL STOP
Entry Point 0.7225
Take Profit 0.7160
Stop Loss 0.7260
Support levels 0.7128, 0.7158, 0.7190, 0.7231, 0.7252, 0.7285, 0.7340, 0.7373, 0.7419
Yesterday and today the pair showed a slight increase. At the same time, NZD remains weak after RBNZ's "pigeon" comments on monetary policy.
Market participants expected strengthening of USD position on Monday, as there were signed agreements on the financing of the US government. However, President Trump made a number of budget proposals for 2019, while ignoring the deficit problem, and at the end of the day, the USD closed with a slight decrease against the majors.
Today, market participants will focus on the speech of Fed member Loretta Meister at 16:00 (GMT+2).
Support and resistance
On H4 chart the instrument is testing the resistance level of 0.7285. Bollinger Bands are reversing upwards, while the price range remains unchanged which is a reason for the preservation of the upward trend. MACD histogram is corrected near zero line. Stochastic is preparing to enter the overbought area, so a strong sell signal can be formed in the next few hours.
Support levels: 0.7128, 0.7158, 0.7190, 0.7231, 0.7252.
Resistance levels: 0.7285, 0.7340, 0.7373, 0.7419.
Trading tips
Long positions may be opened above the level of 0.7300 with the target at 0.7350 and stop-loss at 0.7275. Implementation time: 1 day.
Short positions may be opened from the level of 0.7225 with the target at 0.7160 and stop-loss at 0.7260. Implementation time: 1-2 days.
New Zealand Dollar vs US Dollar
Buy Sell Spread
0.72903 0.72876 27
Scenario
Timeframe Day's Range
Recommendations BUY STOP
Entry Point 0.7310
Take Profit 0.7350
Stop Loss 0.7275
Support levels 0.7128, 0.7158, 0.7190, 0.7231, 0.7252, 0.7285, 0.7340, 0.7373, 0.7419
Alternative scenario
Recommendations SELL STOP
Entry Point 0.7225
Take Profit 0.7160
Stop Loss 0.7260
Support levels 0.7128, 0.7158, 0.7190, 0.7231, 0.7252, 0.7285, 0.7340, 0.7373, 0.7419