NZD/USD: technical analysis
14 August 2018, 11:36
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL LIMIT |
| Entry Point | 0.6690 |
| Take Profit | 0.6570, 0.6500 |
| Stop Loss | 0.6740 |
| Key Levels | 0.6450, 0.6500, 0.6570, 0.6690, 0.6740, 0.6850 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.6850 |
| Take Profit | 0.7025 |
| Stop Loss | 0.6780 |
| Key Levels | 0.6450, 0.6500, 0.6570, 0.6690, 0.6740, 0.6850 |
NZD/USD, D1
On the daily chart, the pair is correcting up from the lower line of the Bollinger Bands. The price remains below its moving averages that are directed down. The RSI is testing from below the border of the oversold zone. The Composite is turning up, having reached its strong support region.
NZD/USD, H4
On the 4-hour chart, the pair is trading on the middle MA of the Bollinger Bands. The price remains below its moving averages that are directed down. The RSI is breaking out its longer MA, having left the oversold zone. The Composite is quickly approaching its strong resistance region.
Key levels
Support levels: 0.6570 (local lows), 0.6500 (July 2015 lows), 0.6450 (November 2015 lows).
Resistance levels: 0.6690 (July lows), 0.6740 (local highs), 0.6850 (July highs).
Trading tips
There is a chance of a short-term upward correction, after which the fall will continue.
Pending sell order can be placed at the level of 0.6690 with targets at 0.6570, 0.6500 and stop-loss at 0.6740. Validity – 3-5 days.
Long positions can be opened from the level of 0.6850 with the target at 0.7025 and stop-loss at 0.6780. Validity – 3-5 days.
On the daily chart, the pair is correcting up from the lower line of the Bollinger Bands. The price remains below its moving averages that are directed down. The RSI is testing from below the border of the oversold zone. The Composite is turning up, having reached its strong support region.
NZD/USD, H4
On the 4-hour chart, the pair is trading on the middle MA of the Bollinger Bands. The price remains below its moving averages that are directed down. The RSI is breaking out its longer MA, having left the oversold zone. The Composite is quickly approaching its strong resistance region.
Key levels
Support levels: 0.6570 (local lows), 0.6500 (July 2015 lows), 0.6450 (November 2015 lows).
Resistance levels: 0.6690 (July lows), 0.6740 (local highs), 0.6850 (July highs).
Trading tips
There is a chance of a short-term upward correction, after which the fall will continue.
Pending sell order can be placed at the level of 0.6690 with targets at 0.6570, 0.6500 and stop-loss at 0.6740. Validity – 3-5 days.
Long positions can be opened from the level of 0.6850 with the target at 0.7025 and stop-loss at 0.6780. Validity – 3-5 days.
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