NZD/USD: technical analysis
18 September 2017, 11:30
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 0.7340 |
| Take Profit | 0.7395, 0.7450 |
| Stop Loss | 0.7295 |
| Key Levels | 0.7205, 0.7220, 0.7270, 0.7340, 0.7395, 0.7450 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 0.7270 |
| Take Profit | 0.7220, 0.7205 |
| Stop Loss | 0.7295 |
| Key Levels | 0.7205, 0.7220, 0.7270, 0.7340, 0.7395, 0.7450 |
NZD/USD, D1
On the daily chart, the pair is trading just below the upper line of the Bollinger Bands. The price remains above its moving averages that are horizontal. The RSI is growing, having broken out its longer MA. The Composite is turning up as well.
NZD/USD, H4
On the 4-hour chart, the pair is trading just below the upper line of the Bollinger Bands. The price remains above its moving averages that start turning up. The RSI is testing its strong resistance slightly below the border of the overbought zone. The Composite starts forming a Bearish divergence with the price.
Key levels
Support levels: 0.7270 (local lows), 0.7220 (December 2016 highs), 0.7205 (July lows).
Resistance levels: 0.7340 (June highs), 0.7395 (November 2016 highs), 0.7450 (May 2012 lows).
Trading tips
The price is testing a strong resistance near 0.7340. Its breakout would lead to a growth continuation.
Long positions can be opened from the level of 0.7340 with targets at 0.7395, 0.7450 and stop-loss at 0.7295. Validity – 3-5 days.
Short positions can be opened from the level of 0.7270 with targets at 0.7220, 0.7205 and stop-loss at 0.7295. Validity – 3-5 days.
On the daily chart, the pair is trading just below the upper line of the Bollinger Bands. The price remains above its moving averages that are horizontal. The RSI is growing, having broken out its longer MA. The Composite is turning up as well.
NZD/USD, H4
On the 4-hour chart, the pair is trading just below the upper line of the Bollinger Bands. The price remains above its moving averages that start turning up. The RSI is testing its strong resistance slightly below the border of the overbought zone. The Composite starts forming a Bearish divergence with the price.
Key levels
Support levels: 0.7270 (local lows), 0.7220 (December 2016 highs), 0.7205 (July lows).
Resistance levels: 0.7340 (June highs), 0.7395 (November 2016 highs), 0.7450 (May 2012 lows).
Trading tips
The price is testing a strong resistance near 0.7340. Its breakout would lead to a growth continuation.
Long positions can be opened from the level of 0.7340 with targets at 0.7395, 0.7450 and stop-loss at 0.7295. Validity – 3-5 days.
Short positions can be opened from the level of 0.7270 with targets at 0.7220, 0.7205 and stop-loss at 0.7295. Validity – 3-5 days.
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