NZD/USD: technical analysis
14 February 2019, 12:27
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 0.6836 |
| Take Profit | 0.6885, 0.6940 |
| Stop Loss | 0.6790 |
| Key Levels | 0.6700, 0.6735, 0.6790, 0.6885, 0.6940, 0.6965 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 0.6790 |
| Take Profit | 0.6735, 0.6700 |
| Stop Loss | 0.6820 |
| Key Levels | 0.6700, 0.6735, 0.6790, 0.6885, 0.6940, 0.6965 |
NZD/USD, D1
On the daily chart, the pair is trading in the upper Bollinger band. The price remains above its moving averages that start turning up. The RSI is growing, having broken out its longer MA. The Composite is testing from below its longer MA as well.
NZD/USD, H4
On the 4-hour chart, the pair is trading in the upper Bollinger band. The price remains above its moving averages that start turning up. The RSI is about to retest the border of the overbought zone. The Composite is showing similar dynamics.
Key levels
Support levels: 0.6790 (local lows), 0.6735 (local lows), 0.6700 (September 2018 highs).
Resistance levels: 0.6885 (November 2018 highs), 0.6940 (local highs), 0.6965 (December 2018 highs).
Trading tips
The price has reversed upward near its medium-term ascending trendline. The growth is likely to continue.
Long positions can be opened from current prices with targets at 0.6885, 0.6940 and stop-loss at 0.6790. Validity – 3-5 days.
Short positions can be opened from the level of 0.6790 with targets at 0.6735, 0.6700 and stop-loss at 0.6820. Validity – 3-5 days.
On the daily chart, the pair is trading in the upper Bollinger band. The price remains above its moving averages that start turning up. The RSI is growing, having broken out its longer MA. The Composite is testing from below its longer MA as well.
NZD/USD, H4
On the 4-hour chart, the pair is trading in the upper Bollinger band. The price remains above its moving averages that start turning up. The RSI is about to retest the border of the overbought zone. The Composite is showing similar dynamics.
Key levels
Support levels: 0.6790 (local lows), 0.6735 (local lows), 0.6700 (September 2018 highs).
Resistance levels: 0.6885 (November 2018 highs), 0.6940 (local highs), 0.6965 (December 2018 highs).
Trading tips
The price has reversed upward near its medium-term ascending trendline. The growth is likely to continue.
Long positions can be opened from current prices with targets at 0.6885, 0.6940 and stop-loss at 0.6790. Validity – 3-5 days.
Short positions can be opened from the level of 0.6790 with targets at 0.6735, 0.6700 and stop-loss at 0.6820. Validity – 3-5 days.
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