The New Zealand Dollar appreciated about 85 base points against the US Dollar on Friday. The currency pair tested the upper boundary of a medium-term ascending channel at 0.6900.
However, after hitting the upper border of the channel pattern, the exchange rate began to decline. By the middle of the European trading session on Monday, the pair has breached the 50-hour simple moving average at 0.6827,
Everything being equal, it is likely that the NZD/USD currency exchange rate continues its decline within this session.
The potential target the price could target will be near the 200-hour SMA at 0.6780 today.
However, after hitting the upper border of the channel pattern, the exchange rate began to decline. By the middle of the European trading session on Monday, the pair has breached the 50-hour simple moving average at 0.6827,
Everything being equal, it is likely that the NZD/USD currency exchange rate continues its decline within this session.
The potential target the price could target will be near the 200-hour SMA at 0.6780 today.
Comment:
The New Zealand Dollar depreciated about 87 base points against the US Dollar on Tuesday. The decline was stopped by s support level formed by the 200-hour simple moving average at 0.6792.
The exchange rate bounced off from the lower boundary of an ascending channel at 0.6780 during the morning hours of Thursday’s trading session. Currently, the pair is near a resistance cluster at 0.6817.
If the rate passes the resistance level, the next target will be at a swing high of 0.6869.
However, if the resistance level holds, the pair could aim for a re-tests of the bottom border to the channel pattern today.
The exchange rate bounced off from the lower boundary of an ascending channel at 0.6780 during the morning hours of Thursday’s trading session. Currently, the pair is near a resistance cluster at 0.6817.
If the rate passes the resistance level, the next target will be at a swing high of 0.6869.
However, if the resistance level holds, the pair could aim for a re-tests of the bottom border to the channel pattern today.
Comment:
The New Zealand Dollar appreciated by about 73 base points against the US Dollar on Wednesday.
Today’s trading session begins with a bearish momentum, and by the middle of the day, a breakout through the lower boundary of an ascending trendline at 0.6802 had occurred.
Given that a breakout had occurred, the decline of the currency exchange rate is likely to continue within this session and potentially target a support level formed by the weekly S1 at 0.6765 today.
Today’s trading session begins with a bearish momentum, and by the middle of the day, a breakout through the lower boundary of an ascending trendline at 0.6802 had occurred.
Given that a breakout had occurred, the decline of the currency exchange rate is likely to continue within this session and potentially target a support level formed by the weekly S1 at 0.6765 today.
Comment:
The New Zealand Dollar depreciated about 63 base points of its values against the US Dollar on Friday. The currency pair was pressured south by the 50,-100-, and 200-hour SMAs during the previous session.
However, Monday’s trading session begins with a strong bullish momentum, and by the middle of the day, the exchange rate has gained about 59 base points of its values.
Everything being equal, it is likely that the NZD/USD currency exchange rate continues its upward movement.
The potential target the price will be at the upper boundary of a downtrend line at 0.6827.
However, Monday’s trading session begins with a strong bullish momentum, and by the middle of the day, the exchange rate has gained about 59 base points of its values.
Everything being equal, it is likely that the NZD/USD currency exchange rate continues its upward movement.
The potential target the price will be at the upper boundary of a downtrend line at 0.6827.
Comment:
A strong resistance cluster formed by the combination of the 200-hour simple moving average and the weekly PP at 0.6810 pressurised the New Zealand Dollar south against the US Dollar.
As for the near future, it is likely that the currency pair could break the resistance of 100-hour SMA at 0.6801 and surge towards the upper boundary of a downtrend line during the following trading session.
On the other hand, the NZD/USD currency exchange rate could reverse from current price level and continue moving down towards a support level formed by the weekly S1 at 0.6745 today.
As for the near future, it is likely that the currency pair could break the resistance of 100-hour SMA at 0.6801 and surge towards the upper boundary of a downtrend line during the following trading session.
On the other hand, the NZD/USD currency exchange rate could reverse from current price level and continue moving down towards a support level formed by the weekly S1 at 0.6745 today.
Comment:
The New Zealand Dollar appreciated by about 56 base points against the US Dollar on Tuesday. The exchange rate breached both the 50– and 100-hour SMAs near 0.6800 during Tuesday’s session.
However, after hitting the weekly PP at 0.6810, the currency pair began to decline. Currently, the price is near a support level formed by the 50– and 100-hour simple moving average at 0.6788.
If the NZD/USD pair passes the support SMAs, the currency exchange rate could aim at the weekly S1 near 0.6745.
On the other hand, if the support level holds, bullish traders could push the rate towards the upper boundary of a downtrend line at 0.6810.
However, after hitting the weekly PP at 0.6810, the currency pair began to decline. Currently, the price is near a support level formed by the 50– and 100-hour simple moving average at 0.6788.
If the NZD/USD pair passes the support SMAs, the currency exchange rate could aim at the weekly S1 near 0.6745.
On the other hand, if the support level holds, bullish traders could push the rate towards the upper boundary of a downtrend line at 0.6810.
Comment:
The New Zealand Dollar surged by about 100 base points against the US Dollar on Wednesday. The exchange rate was supported by the 50– and 100-hour SMAs during yesterday session.
As for the near future, it is expected that the NZD/USD currency exchange rate makes a temporary retracement down towards a support cluster formed by the 200-hour simple moving average and the weekly PP at the 0.6810 area.
If the support cluster holds, the currency pair will continue its upside journey during the following trading session.
As for the near future, it is expected that the NZD/USD currency exchange rate makes a temporary retracement down towards a support cluster formed by the 200-hour simple moving average and the weekly PP at the 0.6810 area.
If the support cluster holds, the currency pair will continue its upside journey during the following trading session.
Everything being equal, it is likely that the currency exchange rate continues trading in a three-week ascending channel pattern during the following trading session.
Technical indicators the 4(H) and the daily time frames suggest that the NZD/USD currency pair could end today with a bullish momentum.
The potential target for the pair will be near the upper boundary of a triangle-likely formation at 0.6900.