NZD/USD, H4
On the H4 chart, there is a correction of the uptrend. The instrument is consolidating near the moving average of Bollinger bands, which acts as a key support. The indicator is directed downwards and the price range is reduced, which indicates formation of the downtrend. MACD histogram is in the negative zone keeping a weak sell signal.
NZD/USD, D1
On the D1 chart, the instrument rebounded twice from the 10-year lows. The level of 0.6200 is a strong support level. Bollinger Bands are reversing downwards, and the price range is expanding, which indicates the continuation of the downtrend. MACD is keeping a strong sell signal.
Key levels
Resistance levels: 0.6285, 0.6322, 0.6361, 0.6412.
Support levels: 0.6225, 0.6200, 0.6165.
Trading tips
Short positions may be opened from the current level with target at 0.6200 and stop loss at 0.6285. Implementation time: 1-2 days.
Long positions may be opened above 0.6285 with target at 0.6360 and stop loss at 0.6245. Implementation time: 1-3 days.
Scenario
Timeframe Intraday
Recommendation SELL
Entry Point 0.6266
Take Profit 0.6200
Stop Loss 0.6285
Key Levels 0.6165, 0.6200, 0.6225, 0.6285, 0.6322, 0.6361, 0.6412
Alternative scenario
Recommendation BUY STOP
Entry Point 0.6290
Take Profit 0.6360
Stop Loss 0.6245
Key Levels 0.6165, 0.6200, 0.6225, 0.6285, 0.6322, 0.6361, 0.6412
On the H4 chart, there is a correction of the uptrend. The instrument is consolidating near the moving average of Bollinger bands, which acts as a key support. The indicator is directed downwards and the price range is reduced, which indicates formation of the downtrend. MACD histogram is in the negative zone keeping a weak sell signal.
NZD/USD, D1
On the D1 chart, the instrument rebounded twice from the 10-year lows. The level of 0.6200 is a strong support level. Bollinger Bands are reversing downwards, and the price range is expanding, which indicates the continuation of the downtrend. MACD is keeping a strong sell signal.
Key levels
Resistance levels: 0.6285, 0.6322, 0.6361, 0.6412.
Support levels: 0.6225, 0.6200, 0.6165.
Trading tips
Short positions may be opened from the current level with target at 0.6200 and stop loss at 0.6285. Implementation time: 1-2 days.
Long positions may be opened above 0.6285 with target at 0.6360 and stop loss at 0.6245. Implementation time: 1-3 days.
Scenario
Timeframe Intraday
Recommendation SELL
Entry Point 0.6266
Take Profit 0.6200
Stop Loss 0.6285
Key Levels 0.6165, 0.6200, 0.6225, 0.6285, 0.6322, 0.6361, 0.6412
Alternative scenario
Recommendation BUY STOP
Entry Point 0.6290
Take Profit 0.6360
Stop Loss 0.6245
Key Levels 0.6165, 0.6200, 0.6225, 0.6285, 0.6322, 0.6361, 0.6412