empty
 
 
05.09.2017 07:03 AM
Technical analysis of NZD/USD for September 05, 2017
This image is no longer relevant

Overview:

  • The NZD/USD pair didn't make any significant movements since last week. There are no changes in our technical outlook. It continued to move downwards from the level of 0.7202 to the bottom around 0.7142. Today, the current price is seen at the level of 0.7170. the first resistance level is seen at 0.7202 followed by 0.7239, while daily support 1 is seen at 0.7100. Furthermore, the moving average (100) starts signaling a downward trend; therefore, the market is indicating a bearish opportunity below 0.7142. So it will be good to sell at 0.7142 with the first target of 0.7100. It will also call for a downtrend in order to continue towards 0.7064 (support 2). The strong daily support is seen at the 0.7064 level, which represents a new double bottom on the H1 chart. According to the previous events, we expect the NZD/USD pair to trade between 0.7202 and 0.7064 in coming hours. The price area of 0.7202 remains a significant resistance zone. Thus, the trend is still bearish as long as the level of 0.7202 is not broken. On the contrary, in case a reversal takes place and the NZD/USD pair breaks through the resistance level of 0.7239, then a stop loss should be set at the price of 0.7280.
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback