The New Zealand Dollar appreciated about 95 base points against the US Dollar on Friday. The currency pair breached the 50-, 100– and 200-hour SMAs during Friday’s trading session.
Monday’s trading session started with bullish sentiment, and by the middle of the European session, the exchange rate has breached the upper boundary of a downtrend line at 0.6878.
As for the short term future, it is likely that the currency exchange rate makes a brief retracement down towards a hidden base of 0.6854. Traders should look for opportunities to trade if the given base hold.
Monday’s trading session started with bullish sentiment, and by the middle of the European session, the exchange rate has breached the upper boundary of a downtrend line at 0.6878.
As for the short term future, it is likely that the currency exchange rate makes a brief retracement down towards a hidden base of 0.6854. Traders should look for opportunities to trade if the given base hold.
Comment:
The New Zealand Dollar edged lower against the US Dollar on Thursday. The currency pair breached a support cluster formed by the combination of the monthly and weekly pivot points at 0.6834.
Currently, the exchange rate is testing a resistance level formed by the weekly PP at 0.6823.
If this resistance line holds, a decline towards a support level set by the monthly S1 at 0.6775 could be expected within this session.
Although, if the NZD/USD pair passes the 0.6824 mark, the next target for bullish traders will be near the 100-hour simple moving average at 0.6861.
Currently, the exchange rate is testing a resistance level formed by the weekly PP at 0.6823.
If this resistance line holds, a decline towards a support level set by the monthly S1 at 0.6775 could be expected within this session.
Although, if the NZD/USD pair passes the 0.6824 mark, the next target for bullish traders will be near the 100-hour simple moving average at 0.6861.
Comment:
A junior descending channel has guided the New Zealand Dollar lower against the US Doller. The currency pair depreciated about 42 base points during Friday's trading session.
The exchange rate is currently trading near the bottom border of a dominant ascending channel pattern at 0.6801 and could be set for a breakout.
If this breakout occurs, the currency exchange rate will aim at the lower boundary of the junior descending channel at 0.6765.
However, of the bottom border of the dominant ascending channel holds, bullish traders could push the pair towards a resistance cluster at 0.6844.
The exchange rate is currently trading near the bottom border of a dominant ascending channel pattern at 0.6801 and could be set for a breakout.
If this breakout occurs, the currency exchange rate will aim at the lower boundary of the junior descending channel at 0.6765.
However, of the bottom border of the dominant ascending channel holds, bullish traders could push the pair towards a resistance cluster at 0.6844.
Comment:
A junior descending channel pattern has guided the New Zealand Dollar towards a three-week low against the US Dollar. The currency pair breached the weekly S1 at 0.6765 during the Asian trading session on Wednesday.
Everything being equal, it is likely that bullish traders could attempt to push the currency exchange rate towards the 50-hour simple moving average at 0.6797 within this session.
However, the NZD/USD pair might make a reversal from the current price level at 0.6780 and continue its downside momentum during the following trading session.
Everything being equal, it is likely that bullish traders could attempt to push the currency exchange rate towards the 50-hour simple moving average at 0.6797 within this session.
However, the NZD/USD pair might make a reversal from the current price level at 0.6780 and continue its downside momentum during the following trading session.
Comment:
The New Zealand Dollar appreciated about 56 base points against the US Dollar on Friday. The surge was stopped by a resistance level formed by the 200-hour simple moving average at 0.6810.
A breakout occurred through the upper boundary of a descending channel pattern at 0.6806 during the European trading session on Monday.
As for the short-term future, it is likely that the currency exchange rate surge towards a resistance level at 0.6834.
On the other hand, the NZD/USD pair could reverse from the current price level and aim for a support cluster at 0.6783 during the following trading session.
A breakout occurred through the upper boundary of a descending channel pattern at 0.6806 during the European trading session on Monday.
As for the short-term future, it is likely that the currency exchange rate surge towards a resistance level at 0.6834.
On the other hand, the NZD/USD pair could reverse from the current price level and aim for a support cluster at 0.6783 during the following trading session.
Comment:
The New Zealand Dollar has declined about 0.86% against the US Dollar during the last 24 hours. A breakout occurred through the lower boundary of a junior ascending channel pattern during Thursday’s trading session.
Given that a breakout had occurred, it is likely that the currency exchange rate will continue its decline within this session. The potential downside target will be near the weekly S1 at 0.6758.
However, a support cluster formed by the combination of the weekly PP and the 200-hour simple moving average at 0.6808 could hinder the NZD/USD exchange rate from hitting the given target today.
Given that a breakout had occurred, it is likely that the currency exchange rate will continue its decline within this session. The potential downside target will be near the weekly S1 at 0.6758.
However, a support cluster formed by the combination of the weekly PP and the 200-hour simple moving average at 0.6808 could hinder the NZD/USD exchange rate from hitting the given target today.
Comment:
The New Zealand Dollar is gradually making a new higher highs and lower lows since the currency pair bounced off a support level formed by the 200-hour simple moving average at 0.6809 on March 14.
The exchange rate tested a resistance level formed by the upper boundary of a downtrend line at 0.6874 during the morning hours of Monday’s trading session.
Everything being equal, it is likely that the NZD/USD currency exchange rate could aim for a support cluster set by the combination of the 50– and 100-hour SMAs at 0.6845 during the following trading session.
The exchange rate tested a resistance level formed by the upper boundary of a downtrend line at 0.6874 during the morning hours of Monday’s trading session.
Everything being equal, it is likely that the NZD/USD currency exchange rate could aim for a support cluster set by the combination of the 50– and 100-hour SMAs at 0.6845 during the following trading session.
Comment:
Upside momentum pressured the New Zealand Dollar higher against the US Dollar on Wednesday. The reason for the surge was mostly related to the US FOMC meeting. The currency pair gained about 107 base points during yesterday’s trading session.
Most likely, bears could drag the exchange rate towards the weekly pivot point at 0.6885 within this session.
If the support level holds, the currency exchange rate will continue its movement in the medium-term ascending channel during the following trading session.
Meanwhile, technical indicators flash buy signals on both the smaller and the larger time frames chart.
Most likely, bears could drag the exchange rate towards the weekly pivot point at 0.6885 within this session.
If the support level holds, the currency exchange rate will continue its movement in the medium-term ascending channel during the following trading session.
Meanwhile, technical indicators flash buy signals on both the smaller and the larger time frames chart.
The currency pair is currently testing the upper band of the triangle pattern at 0.6878.
Most likely, the NZD/USD exchange rate could edge lower towards a support cluster formed by the combination of the 50-, 100– and 200-hour SMAs near the 0.6849 area within this session.
However, technical indicators suggest otherwise. Technical sentiment flash bullish signals today.