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NZD USD Technical Analysis - NZD USD Trading: 2024-06-05
NZD/USD Technical Analysis Summary
Above 0.6197
Buy Stop
Below 0.6154
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Buy |
| MA(200) | Buy |
| Fractals | Sell |
| Parabolic SAR | Buy |
NZD/USD Chart Analysis
NZD/USD Technical Analysis
The technical analysis of the NZDUSD price chart on 4-hour timeframe shows NZDUSD,H4 is retracing up above the 200-period moving average MA(200) after hitting two-week low a week ago. We believe the bullish movement will continue after the price breaches above the upper bound of Donchian channel at 0.6197. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 0.6154. After placing the order, the stop loss is to be moved to the next fractal low indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Forex - NZD/USD
New Zealand terms of trade improved more than expected. Will the NZDUSD price rebound persist?
New Zealand terms of trade improved more than expected: the Statistics New Zealand reported the overseas merchandise (goods) trade index in New Zealand rose by 5.1% quarter over quarter in the three months to March while the market forecast a 3.1% increase. Export prices declined by 0.3% in the first quarter, following a 3.8% drop in the previous quarter. Meanwhile, import prices fell by 5.1% after a 4.2% jump in the prior period. Total exports of goods and services for the March quarter were $24.7 billion, up from $24.0 billion in the March 2023 quarter. At the same time, total imports of goods and services were $26.0 billion, down from $26.7 billion in the March 2023 quarter. Bigger than expected increase in New Zealand terms of trade is bullish for New Zealand dollar and hence the NZDUSD currency pair.
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This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.