Judging from the SMAs, they are mostly promoting a neutral price development.
The short-term oscillators appear fairly flat and are signalling weak and mixed signals in directional momentum. The MACD has flattened towards its red trigger line in the positive area, while the RSI is trying to improve in bullish territory. The stochastic oscillator is static with its %K line marginally below its %D line, endorsing no clear price direction in the pair for now.
In a positive scenario, preliminary upside obstructions could come from the 200-day SMA at 0.7120 ahead of the resistance band of 0.7150-0.7169. Piloting higher, the upper Bollinger band coupled with the 0.7239 border, being the 23.6% Fibonacci retracement level of the up leg from 0.6510-0.7464, could delay the test of the 0.7286-0.7315 near-term ceiling, an area involving peaks from early March, April and May.
Alternatively, sellers may struggle to break below the immediate 38.2% Fibo of 0.7098 and the nearby 100-day SMA at 0.7070. However, should this play out, a neighbouring zone of support could develop between 0.7043 until the 50-day SMA at 0.7003, which also encapsulates the mid-Bollinger band. Declining further, the price may meet the 0.6932 low before targeting the 61.8% Fibo of 0.6876. From here, if sellers remain in the driver’s seat, the lower Bollinger band at 0.6834 may come into focus prior to the key 9-month trough of 0.6803.
Summarizing, NZDUSD’s directional forces seem to have temporarily dried up as the price is stuck between the 100- and 200-day SMAs. Nevertheless, a break above the 0.7150-0.7169 barrier or beneath the 50-day SMA at 0.7003 could produce a new price course.
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Philippines)
- English (Nigeria)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Português (Portugal)
- Polski
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
Technical Analysis – NZDUSD edges across 38.2% Fibonacci around 0.71
ByXM Group
AuthorTrading Point
Published 09/15/2021, 08:54 AM
Updated 05/01/2024, 03:15 AM
Technical Analysis – NZDUSD edges across 38.2% Fibonacci around 0.71
NZDUSD is creeping sideways along the 0.7100 level, which happens to be surrounded by the 100- and 200-day simple moving averages (SMAs) at 0.7070 and 0.7120 respectively, after its latest rally ran out of steam.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or
remove ads
.
Latest comments
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.