empty
 
 
07.05.2014 04:05 PM
Technical analysis of NZD/USD for May 07, 2014

This image is no longer relevant

Overview:

NZD/USD is expected to consolidate in a lower range after hitting a two-and-a-half year high at 0.8779 on Tuesday. It is undermined by the comment from RBNZ Gov. Wheeler that the Kiwi is overvalued and if the "currency remains high in the face of worsening fundamentals, such as a continued weakening in export prices, it would become more opportune for the Reserve Bank to intervene in the currency market to sell NZ dollars." NZD/USD is also weighed by the concerns over China's economy, Kiwi sales on rebounding AUD/NZD cross and decreased investor risk appetite. But NZD/USD losses are tempered by the negative dollar sentiment and NZD-USD interest differential. Daily chart is still positive-biased as MACD and stochastics are bullish, although the latter is at overbought zone, five-day moving average is above 15-day MA and is advancing.

Trading recommendation:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 0.8635. A breach of this target will move the pair further downwards to 0.8595. The pivot point stands at 0.8705. In case the price moves in the opposite direction and bounces back from support level, and then it moves above its pivot point, it is likely to move further to the upside. In that scenario, a long position is recommended with the first target at0.8780 and the second target at 0.8820.

Resistance levels:
0.8780
0.8820
0.8850

Support levels:
0.8635
0.8595
0.8550

Dapatkan keuntungan dari perubahan nilai mata uang kripto dengan InstaForex.
Unduh MetaTrader 4 dan buka perdagangan pertama Anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    GABUNG KONTES
  • Chancy Deposit
    Isi akun Anda sebesar $3000 dan dapatkan $1000 lebih banyak!
    Pada Juni kami mengundi $1000 dalam promo Chancy Deposit!
    Dapatkan kesempatan untuk menang dengan melakukan deposit sebesar $3000 pada akun trading Anda. Setelah memenuhi persyaratan ini, Anda telah menjadi partisipan promo.
    GABUNG KONTES
  • Trade Wise, Win Device
    Top up akun anda dengan dana minimal $500, daftar kontes, dan dapatkan peluang untuk memenangkan perangkat seluler.
    GABUNG KONTES
  • 100% Bonus
    Kesempatan langka untuk mendapatkan bonus 100% pada deposit anda
    DAPATKAN BONUS
  • 55% Bonus
    Ajukan bonus 55% pada setiap deposit anda
    DAPATKAN BONUS
  • 30% Bonus
    Raih bonus 30% setiap kali anda top up
    DAPATKAN BONUS

Artikel yang direkomendasikan

Tidak bisa bicara sekarang?
Tanyakan pertanyaan anda lewat chat.
Widget callback