OANDA:NZDUSD   New Zealand Dollar / U.S. Dollar
Current trend

The NZD/USD             pair is decreasing after the RBNZ interest rate decision.

The regulator has kept the rate on the level of 1.75% and added that the tightening of the monetary policy is undesirable. According to officials, the low interest rates will help GDP grow and will give the basic inflation reach the target level.

Today the traders are focused on the US employment market publications at 16:30 (GMT+2).

Support and resistance

On the 4-hour chart, the instrument is testing the resistance level of 0.7200. Bollinger Bands is pointed downwards, as the price range is widened, reflecting the developing of the downward trend. MACD histogram reached the minimum in the negative zone, keeping strong sell signal. Stochastic is ready to leave the oversold area and form a strong buy signal in the nearest hours.

Resistance levels: 0.7200, 0.7230, 0.7263, 0.7283, 0.7322, 0.7365.

Support levels: 0.7084, 0.7136, 0.7179.

Trading tips

Long positions can be opened above the level of 0.7232 with the targets at 0.7280, 0.7300 and stop loss 0.7200. Implementation period: 1 day.

Short positions can be opened at the level of 0.7175 with the targets at 0.7030, 0.7000 and stop loss 0.7225. Implementation period: 1 day.

New Zealand Dollar             vs US Dollar            

Buy Sell Spread
0.71977 0.71954 23


Timeframe Day's Range
Recommendations BUY STOP
Entry Point 0.7235
Take Profit 0.7280, 0.7300
Stop Loss 0.7200
Support levels 0.7084, 0.7136, 0.7179, 0.7200, 0.7230, 0.7263, 0.7283, 0.7322, 0.7365

Alternative scenario

Recommendations SELL STOP
Entry Point 0.7175
Take Profit 0.7030, 0.7000
Stop Loss 0.7225
Support levels 0.7084, 0.7136, 0.7179, 0.7200, 0.7230, 0.7263, 0.7283, 0.7322, 0.7365
More analytic from LiteForex:
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