- Analytics
- Technical Analysis
NZD USD Technical Analysis - NZD USD Trading: 2023-07-10
NZD/USD Technical Analysis Summary
Above 0.6218
Buy Stop
Below 0.61312
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Neutral |
| MA(200) | Buy |
| Fractals | Buy |
| Parabolic SAR | Buy |
NZD/USD Chart Analysis
NZD/USD Technical Analysis
The technical analysis of the NZDUSD price chart on daily timeframe shows NZDUSD,Daily is testing the 200-period moving average MA(200) which is rising still. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 0.62180. 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 0.61312. 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’s business confidence improved modestly. Will the NZDUSD price rebound?
New Zealand’s business confidence improved marginally in June quarter. New Zealand Institute of Economic Research (NZIER) reported Business Confidence Index edged up to -63 from -66. However, the latest NZIER Quarterly Survey of Business Opinion showed a net 59 percent of businesses expect deterioration in general economic conditions over the coming months. The retail sector was the most downbeat in the June quarter, with a net 64 percent of retailers surveyed expecting a worsening in the general economic outlook. While cost and price pressures are falling, this environment of weaker demand is weighing on the sentiment of retailers. According to QSBO, manufacturing and services sectors were also downbeat with weaker demand in the services sector weighing on the sentiment of services sector firms. Cost pressures have increased for both sectors, which is weighing on their profitability. Weaker New Zealand demand expectations are bearish for New Zealand currency. However the current setup is bullish for NZDUSD.
- Get Certificate
Note:
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.