Free Forex Signal Technical Analysis

NZDUSD Analysis – Nzdusd slips below 100-DMA, short rallies

NZDUSD Analysis – Nzdusd slips below 100-DMA, short rallies

Nzdusd Analysis NZD/USD bias turns lower after rejection at major trendline resistance at 0.7265 on Thursday’s trade. Nzdusd pair is extending grind lower, has broken below major supports – 20-DMA (0.7186), 100-DMA (0.7184), 38.2% Fibo (0.7175). Hawkish comments from Fed’s Dudley which revived hopes of a Fed hike by the end of this year more weighing on higher-yielding currencies – like Kiwi.

Technical indicators on daily charts support bearish bias, RSI and Stochs are biased lower, MACD remains below 0 . Major support levels – 0.7109 (Oct seven low), 0.7080 (50% Fib), 0.7055 (trendline)0.7035 (Oct thirteen low) Major resistance levels – 0.7175 (38.2% Fib), 0.7184 (100-DMA), 0.7250 (falling trendline) good to sell rallies around 0.7175/80, Stop Loss : 0.7250, Take Profit : 0.7135/ 0.71/ 0.7080/ 0.7055.

nzdusd analysis

NZDUSD Short Signal

Wave 1 of the last 5 completed. Waiting for some retracement (possibly to 0.72) until continuing downward Target 1 is 0.704 (Wave 5 may fail to reach new lows due to the trend-line being broken) – 70% possibility Target 2 is 138.2% Fib or 0.7 (round number) – 30% possibility.

nzdusd analysis

About the author

Mohammmad Riad

Add Comment

Click here to post a comment

Your email address will not be published. Required fields are marked *


Topics

forexing24-ad-1

forexing24-ad-2

  • analystfx-small.jpg
  • analystfx-small.jpg
  • medium.jpg
  • medium.jpg
  • medium.jpg
  • medium.jpg

Recommended Forex Broker

  • banner-300x250-gif-animation-2.gif