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NZD/USD Technical Analysis - NZD/USD Trading: 2024-01-19
NZD/USD Technical Analysis Summary
Below 0.6088
Sell Stop
Above 0.6243
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Neutral |
| MA(200) | Buy |
| Fractals | Sell |
| Parabolic SAR | Sell |
NZD/USD Chart Analysis
NZD/USD Technical Analysis
The technical analysis of the NZDUSD price chart on daily timeframe shows NZDUSD,Daily is retracing down to test the 200-day moving average MA(200) after hitting six-month high three weeks ago. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 0.6088. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 0.6243. After placing the order, the stop loss is to be moved to the next fractal high indicator following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Forex - NZD/USD
New Zealand’s manufacturing sector contraction deepened in December. Will the NZDUSD price continue retreating?
New Zealand’s manufacturing sector activity contraction deepened in December: the BusinessNZ Manufacturing Index fell to 43.1 in December from 46.5 in November. Readings above 50.0 indicate expansion, below indicate contraction. This is bearish for New Zealand dollar and NZDUSD currency pair.
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This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.