FXTM information and reviews
IronFX information and reviews
Libertex information and reviews
FXCC information and reviews
FxPro information and reviews
OctaFX information and reviews

NZDUSD advances past critical 0.6800 mark

12 November 2020

NZDUSD’s newfound strength off the 100-day simple moving average (SMA) has prodded the pair above the tough 0.6800 boundary, resulting in a 19½-month high of 0.6903 being realized. The gradual incline of the 100-day SMA and the upturn in the 200-day SMA, in addition to the bullish tone of the Ichimoku lines, endorse further advances.

The short-term oscillators currently reflect intact positive momentum. The MACD is increasing above its red trigger line in the positive area, while the RSI is trying to maintain its step above the 70 mark. The stochastic lines are in overbought territory, promoting a positive drive in the price, and have yet to signal negative tendencies.

If the current trajectory persists, buyers face an initial resistance section of 0.6923-0.6968, which contains multiple peaks from December 2018 through to March 2019. Surpassing this heavy obstacle, the price may shoot for the 0.7052 high from June 2018, and the adjacent 0.7095 barrier just shy of the 0.7100 hurdle. Additional gains in the price may then focus on the 0.7152 inside swing low from March 2018.

Otherwise, if sellers resurface, early support may develop from the critical 0.6800 handle ahead of the Ichimoku lines at 0.6745 and 0.6723 respectively. Next, the limiting zone from the 50-day SMA of 0.6665 to the 100-day SMA at 0.6629 – that also encapsulates the cloud – may defend a deeper dip towards the key 0.6588 trough. Another leg down may encounter the 0.6545 low and the support base of 0.6487-0.6510, which may attempt to terminate extra negative moves from maturing. Should this task fail, traders’ attention may then shift towards the 200-day SMA at 0.6400 and the adjacent 0.6378 low.

Summarizing, NZDUSD conveys a short-to-medium term bullish tone above 0.6800 and the SMAs.




Scope for dips towards the 0.6793-0.6776 confluence zone
Scope for dips towards the 0.6793-0.6776 confluence zone

A dovish Reserve Bank of New Zealand (RBNZ) policy outcome this week, accompanied by a bloated NZD long positioning sees the kiwi breaking under a protracted...

25 Nov 2021

NZD/USD struggles for direction, flat-lined above mid-0.7100s
NZD/USD struggles for direction, flat-lined above mid-0.7100s

The NZD/USD pair seesawed between tepid gains/minor losses through the early part of the European session and was last seen trading in the neutral territory...

9 Nov 2021

Move beyond 50% Fibo. sets the stage for further gains
Move beyond 50% Fibo. sets the stage for further gains

NZD/USD gained strong traction for the fifth consecutive session on Tuesday. Sustained break through the 0.7100 confluence hurdle favours bullish traders...

19 Oct 2021

NZD: Buy the Rumor sell the fact?
NZD: Buy the Rumor sell the fact?

The RBNZ confirmed a 25-basis-point rate raise, which had been widely anticipated and already factored into the markets. The NZD, however, did not benefit from the boost...

14 Oct 2021

NZD/USD pares intraday gains, up little around 0.6915-20 area
NZD/USD pares intraday gains, up little around 0.6915-20 area

The risk-on impulse provided a modest boost to the perceived riskier kiwi on Thursday. Hawkish Fed expectations acted as a tailwind for the USD and capped gains for the pair...

7 Oct 2021

The Kiwi is falling
The Kiwi is falling

NZDUSD is being sold after the RBNZ meeting. The New Zealand Dollar is falling against the USD. The current quote for the instrument is 0.6880. During its October meeting...

6 Oct 2021

HotForex information and reviews
XM information and reviews
FXCM information and reviews
AvaTrade information and reviews
LegacyFX information and reviews
FP Markets information and reviews
FP Markets

© 2006-2021 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.