FX:NZDUSD   New Zealand Dollar/U.S. Dollar
29 0 0
Current trend

Since the beginning of the week, the NZD/USD             pair has been trading within a narrow range. Market participants are waiting for new drivers which will determine further dynamics in the pair. However, as no macroeconomic releases are due in New Zealand and not so much important data is expected to be released in the US, the pair is likely to keep trading flat.

Support and resistance

Technical indicators suggest the pair tends to trade within the sideways range. Bollinger Bands are narrowing down while the price remains near the middle MA. Later, a slight decline is possible after which a correction can be expected.

Support levels: 0.6730, 0.6630, 0.6610.
Resistance levels: 0.6795, 0.6860.

Trading tips

Short positions can be opened at the current level with the target at 0.6730 and stop-loss at 0.6795.
Long positions can be opened above the level of 0.6795 with the target at 0.6860.
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