NZD/USD: technical analysis

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01/11/2019

NZD/USD, D1

On the daily chart, the instrument grows after correction, the pair moves towards the upper border of Bollinger bands, the price range is narrowed. MACD histogram is around ​​the zero line, the signal for sale weakens. Stochastic is on the border with the overbought zone, the oscillator lines are directed horizontally.

NZD/USD, H4

On the 4-hour chart, the instrument grows along the upper border of Bollinger bands, the price range is widened, which indicates a likely continuation of the upward movement. MACD histogram is in the positive area, keeping a strong signal to open long positions. Stochastic is on the border with the overbought zone, the oscillator lines are directed upwards.

Key levels

Resistance levels: 0.6839, 0.6879, 0.6910, 0.6968.

Support levels: 0.6770, 0.6754, 0.6706, 0.6650, 0.6622, 0.6591.

Trading tips

In the short term, long positions can be opened from the current level with the target at 0.6879 and stop loss 0.6800.

Short positions can be opened from the level of 0.6750 with the target at 0.6706. Stop loss is 0.6780.

Implementation period: 1–3 days.

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