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AmContent
AmContent Wednesday, July 8, 2020

NZD/USD Technical Analysis

Key Information
Trend Orientation in Long term: Range
Trend Orientation in Short term: Sell
Daily fluctuation range: 0.6380 - 0.6585
Key resistance: 0.6585
Key Support: 0.6380

NZD bounced after it hit the 0.6585 sealing on July 6. The market has infiltrated the fragile support at 0.6532 on July 8, and the price correction is being happened clung to the said level. We are considering the 0.6532 minor support is no longer valid.

With the risk of getting stopped by the bulls at 0.6585 - 0.6600, we expect a further market decline in the following Fibo decks.

Level 0.382 at 0.6506
Level 0.5 at 0.6483
Level 0.618 at 0.6460

On the other hand, a robust breach in the 0.6585 sealing would indicate the ongoing side movement since June 8 is over, and the upside movement continues.

Jul 08 at 10:06
AmContent
AmContent Wednesday, July 8, 2020

NZD/USD Technical Analysis

Key Information
Trend Orientation in Long term: Range
Trend Orientation in Short term: Sell
Daily fluctuation range: 0.6380 - 0.6585
Key resistance: 0.6585
Key Support: 0.6380

NZD bounced after it hit the 0.6585 sealing on July 6. The market has infiltrated the fragile support at 0.6532 on July 8, and the price correction is being happened clung to the said level. We are considering the 0.6532 minor support is no longer valid.

With the risk of getting stopped by the bulls at 0.6585 - 0.6600, we expect a further market decline in the following Fibo decks.

Level 0.382 at 0.6506
Level 0.5 at 0.6483
Level 0.618 at 0.6460

On the other hand, a robust breach in the 0.6585 sealing would indicate the ongoing side movement since June 8 is over, and the upside movement continues.

Jul 08 at 09:48
AmContent
AmContent Monday June 29, 2020

Is this a price correction?

NZD/USD remained residing in the upward channel (in purple) moving slowly toward 0.6450. The previous scenario is yet valid. As long as 0.6381 support holds we presume the uptrend continues.

Key bottom 0.6381
Key high 0.6585
Key resistant 0.6500
Key support 0.6381

Jun 29 at 08:52
AmContent
AmContent NZDUSD seems to be swinging in the upward parallel channel. We have a well-formed double bottom at 0.6381. The market holds twice at 0.6381. The said pattern is considered as a bullish reversal.

If 0.6381 holds we expect to see 0.6585 again.

On the other hand, in case 0.6585 breaks down with a robust market move, latter consolidation may resume at lower levels.

Jun 25 at 11:51
AmContent
AmContent The NZD/USD pair is struggling to find direction on Thursday and trading in a very tight 15-pip range below the 0.6600 handle with investors staying on the sidelines ahead of the key inflation data from New Zealand. The lack of significant macroeconomic data releases from China and New Zealand caused the pair to stay stuck in its narrow channel. Although the positively-correlated AUD/USD pair gained nearly 40 pips during the Asian trading hours following the upbeat labour market data from Australia, the NZD/USD failed to react.On the other hand, the greenback's uninspiring performance since the start of the week allows the pair to extend its sideways action. The US Dollar Index, which tracks the USD's value against a basket of six major currencies, seems to have gone into a consolidation phase after meeting resistance near 97.70 on Monday.
Jan 23 at 13:42
AmContent
AmContent January 8, 2020

The NZDUSD downside movement has been eased after it plunged to @0.6635 support, and the pair bounced a bit more or less than 50 pips since this morning. The blue downside trend line is the solid support for NZD. Market sentiment will be bullish while the price hovers above these areas and the quote likely surge to challenge the July high at @0.6791.

Jan 08 at 10:51
AmContent
AmContent January 7, 2020

The currency pair bounced at @0.6721 near the Fibonacci retracement 0.382. This is likely the uptrend consolidation which was stipulated on December 30, 2019 post. The market sentiment should be bullish as far @0.6635, and the downside trend line holds.
There are buy opportunities at @0.6635, and @0.6600 levels.

Jan 07 at 08:22
AmContent
AmContent December 30, 2019

In a bullish technical standpoint

The NZDUSD is clinging Fibonacci 0.382 where illustrated from the 07/24/2017 cap. So far, there is no significant sign of consolidation in the uptrend rally after the big break (Blue trend line). NZD/USD confronts two barriers at this stage.

The Fibonacci 0.382 level at @0.6721 and July 15, 2019, high at @0.6791
December 03, 2018, and March 18, 2019 highs in sequent at @0.6969 and @0.6939.

A division in the obstacles mentioned above likely would surge the currency pair to eye uptick Fibonacci retracement decks at 0.618 and 0.786.

Dec 30 2019 at 06:43
AmContent
AmContent December 26th, 2019

The New Zealand dollar is continually pushing forward, and it has passed the @0.6635 peak as the first task after the Christmas day December 25th. However, NZD/USD was hanging and lingering in @0.6635 area for hours, and the resistance @0.6635 was breached and then retreated several times which raises uncertainty about @0.6635 level if it was an accredited zone.

Fibonacci retrace 0.786 is a few pips away. Bears might take advantage of this psychological level to stretch the pair down to Fibo deck 0.618 at @0.6567.

A break above @0.6665 could push the pair to aim uptick resistant at @0.67910.

Dec 29 2019 at 16:13
AmContent
AmContent Wednesday 18th, 2019

The price action rebounded to the key support @66339 without the bulls intrusion. The slender candle confirms the price bounce. So far the bears are winning the challenge, and the currency pair would have an eye to fill the @0.6455 area and beyond.

Dec 18 2019 at 06:26
DarioN1
DarioN1 Seems that the price is still pushing Up!
Dec 23 2019 at 16:48
AmContent
AmContent Dear @DarioN1,

Thank you for your message and for joining my small community.

A break above @0.66339 would carry the currency pair up to the next resistance at @0.6792.

However, we should consider that the market is spending its holidays. Banks are closed or on standby but promissory notes are awake, and they could manipulate the market in their advantages, in such confined condition supports and resistance levels doesn't have the fiduciary as they have during the year.

I have set my SL on NZD/USD at @0.6640. That will be my last move on this pair on this year.
Dec 24 2019 at 04:42
AmContent
AmContent Tuesday 17th, December 2019

NZD/USD has been roaming in the @0.6600 in the last business days.

Sell opportunity sustains.

Dec 17 2019 at 07:59
AmContent
AmContent Monday, December 16th, 2019

The NZD/USD pair seems to form a substantial peak at @0.6633 as the price action shows a shadow candle on November 12th daily chart. In this scenario, the bull trend was emanated at @0.6205 is no longer lively, and the bears would pull down the value to @0.6455 support. A sharp break below this level indicates the downtrend continues and the next supports could be at @0.6323 and @0.6204.

Trade Tip:
Short at 0.66 | TP1: 0.6455, TP2: 0.6323, TP3:0.625 | SL: 0.6640

***********

It is not wise to waive alternative trajectories.
Noteworthy: A break above @0.6633 resistance could indicate the soar was originated at 0.6205 has not done its mission yet, and the NZDUSD would eye off 0.6792.

To be continued...

Dec 16 2019 at 06:50
 
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