empty
 
 
05.03.2021 04:13 PM
NZD/USD Hot Forecast for 5th March, 2021
  • NZD/USD witnessed heavy selling for the third straight day and dropped to five-week lows.
  • Any attempted recovery towards the 0.7200 region might be seen as a selling opportunity.

This image is no longer relevant

NZD/USD maintained its heavily bearish tone through the mid-European session and was seen trading near five-week lows, around the 0.7130 region ahead of NFP

Given that this week's bounce faced rejection near the 0.7300 mark, the overnight break below the 0.7230-25 support was seen as a key trigger for bearish traders. A subsequent slide below the 0.7200 mark reaffirmed the bearish breakdown and exerted pressure on the major for the third consecutive session on Friday.

Meanwhile, stochastic oscillators on the daily chart flashing oversold conditions and seemed to be the only factor that helped limit losses .This support prospects for a pullback at 0.7100 psychological support level. If 0.7100 mark is broken decisively should open the way for additional weakness. The NZD/USD pair might then accelerate the fall towards the 0.7045-40 intermediate support before eventually dropping to challenge the key 0.7000 psychological mark.

On the flip side, any attempted recovery beyond the 0.7155-60 region might be seen as a selling opportunity. This, in turn, should cap the upside for the NZD/USD pair near the 0.7200 region which coincides with 50% retracement. This is closely followed by the 0.7225 support breakpoint, which should now act as a short-term top for the major.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $1000 más!
    ¡En Abril, sorteamos $1000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback