NZD/USD: technical analysis
03 April 2018, 11:23
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL LIMIT |
| Entry Point | 0.7280 |
| Take Profit | 0.7185, 0.7150 |
| Stop Loss | 0.7300 |
| Key Levels | 0.7130, 0.7150, 0.7185, 0.7280, 0.7300, 0.7365 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.7300 |
| Take Profit | 0.7365 |
| Stop Loss | 0.7270 |
| Key Levels | 0.7130, 0.7150, 0.7185, 0.7280, 0.7300, 0.7365 |
NZD/USD, D1
On the daily chart, the pair is trading on the middle MA of the Bollinger Bands. The price remains just above its moving averages that are horizontal. The RSI is testing from below its longer MA. The Composite turned up, having failed its longer MA.
NZD/USD, H4
On the 4-hour chart, the pair is trading on the upper line of the Bollinger Bands. The price remains just above the EMA14, EMA65, EMA130 and slightly below the SMA200, which is directed down. RSI is approaching the border of the overbought zone. The Composite is growing as well, having broken out its longer MA.
Key levels
Support levels: 0.7185 (local lows), 0.7150 (March lows), 0.7130 (August 2017 lows).
Resistance levels: 0.7280 (local highs), 0.7300 (local highs), 0.7365 (February 2017 highs).
Trading tips
The price is approaching its medium-term descending trendline. There is a chance of a downward reverse.
Short positions can be opened after the price rebound from the level of 0.7280 with targets at 0.7185, 0.7150 and stop-loss at 0.7300.
Long positions can be opened from the level of 0.7300 with the target at 0.7365 and stop-loss at 0.7270.
On the daily chart, the pair is trading on the middle MA of the Bollinger Bands. The price remains just above its moving averages that are horizontal. The RSI is testing from below its longer MA. The Composite turned up, having failed its longer MA.
NZD/USD, H4
On the 4-hour chart, the pair is trading on the upper line of the Bollinger Bands. The price remains just above the EMA14, EMA65, EMA130 and slightly below the SMA200, which is directed down. RSI is approaching the border of the overbought zone. The Composite is growing as well, having broken out its longer MA.
Key levels
Support levels: 0.7185 (local lows), 0.7150 (March lows), 0.7130 (August 2017 lows).
Resistance levels: 0.7280 (local highs), 0.7300 (local highs), 0.7365 (February 2017 highs).
Trading tips
The price is approaching its medium-term descending trendline. There is a chance of a downward reverse.
Short positions can be opened after the price rebound from the level of 0.7280 with targets at 0.7185, 0.7150 and stop-loss at 0.7300.
Long positions can be opened from the level of 0.7300 with the target at 0.7365 and stop-loss at 0.7270.
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