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Technical Analysis NZDUSD : 2021-04-07

Recommendation for NZD/USD:

Sell
Strong SellSellNeutralBuyStrong Buy

Below 0.7021

Sell Stop

Above 0.7062

Stop Loss

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Senior Analytical Expert
Articles 1778
IndicatorValueSignal
MACD Sell
Donchian Channel Sell
MA(200) Buy
Fractals Sell
Parabolic SAR Sell
RSI Neutral

Chart Analysis

IFC Markets Tech Analysis

The NZDUSD technical analysis of the price chart on 1-hour timeframe shows NZDUSD: H1 is falling toward the 200-period moving average MA(200) which continues to rise. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 0.7021. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 0.7062. After placing the order, the stop loss is to be moved to the next fractal high 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

Prices of exported commodities of New Zealand’s rose in March. Will the NZDUSD retreat reverse?

Prices of exported commodities of New Zealand’s rose in March: the Australia and New Zealand Banking Group (ANZ) reported the Commodity Price Index of New Zealand’s exported commodities increased by 6.1% in March after 3.3% rise in previous month. This is bullish for NZDUSD. However NZDUSD current setup is bearish.

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