NZDUSD forecast bearish after interest rate hike
Technical Analysis Summary NZD/USD: Sell
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Sell | |
| MA(200) | Buy | |
| Fractals | Neutral | |
| Parabolic SAR | Sell |
Chart Analysis
The technical analysis of the NZDUSD price chart on 1-hour timeframe shows NZDUSD,H1 is retracing down toward the 200-period moving average MA(200) after hitting three-week high today. We believe the bearish momentum will continue after the price breaches below 0.6450. 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 0.6513. After placing the order, the stop loss is to be moved to the next fractal high, following Parabolic indicator 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 -
Reserve Bank of New Zealand raised the official cash rate half a percentage point. Will the NZDUSD price rebound continue?
Reserve Bank of New Zealand raised the official cash rate half a percentage point. RBNZ raised the official cash rate to 2% from 1.5%. The price rose after the RBNZ announcement. However the current setup is bearish for NZDUSD.