FxWirePro
Short

NZD/USD tests 20-DMA at 0.7297, bias lower, stay short

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
216 0 5
Kiwi bears in control for the third straight session, NZD/USD             recovery attempts rejected at session highs by 0.7345.

The pair tests 20-DMA at 0.7297, bias lower, stay short.

Sentiment around the higher-yielding currency remains sour amid tumbling global equities as well as commodities’ prices.

Chinese data along with NZ             GDP scheduled for release later this week to have a major influence on the pair.

Major support levels - 0.7298 (20-DMA), 0.7294 (23.6% Fib), 0.7208 (50-DMA), 0.720 ( trendline )

Major resistance levels - 0.7345 (session high), 0.7380 (5-DMA), 0.74, 0.7413 (Sept 9 high)

Our previous call (link below) has hit all targets. Close below 20-DMA to see test of 0.72 levels.

We recommend booking partial profits, lower trailing stop to 0.7350, target 0.7240/0.72.

On the flipside, failure to close below 20-DMA could see a bounce. Bearish invalidation above 0.7375.
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out