Upbeat New Zealand economic outlook bullish for NZDUSD
Technical Analysis Summary NZD/USD: Buy
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Buy | |
| Donchian Channel | Buy | |
| MA(200) | Buy | |
| Fractals | Buy | |
| Parabolic SAR | Buy |
Chart Analysis
On 1-hour timeframe NZDUSD: H1 has risen above the 200-period moving average MA(200) which is falling itself. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 0.6478. 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 0.6452. After placing the order, the stop loss is to be moved to the next fractal low, 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 -
New Zealand central bank’s forecasts for economy were more upbeat than last year while the bank kept interest rates unchanged. Will the NZDUSD continue rebounding?
New Zealand central bank’s statement on economy's outlook was more upbeat than last year while the bank kept interest rates unchanged. This is bullish for NZDUSD.