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NZD USD Technical Analysis - NZD USD Trading: 2023-05-19
NZD/USD Technical Analysis Summary
Above 0.6290
Buy Stop
Below 0.6234
Stop Loss
| Indicator | Signal |
| RSI | Sell |
| MACD | Buy |
| Donchian Channel | Buy |
| 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 1-hour timeframe shows NZDUSD: H1 has breached above the 200-period moving average MA(200). The RSI indicator has entered the overbought zone. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 0.6290. 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 0.6234. 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 Forex - NZD/USD
New Zealand’s trade balance turned positive in April. Will the NZDUSD price persist advancing?
New Zealand’s trade balance turned positive in April: the Statistics New Zealand reported New Zealand recorded NZ $427 million surplus in April after NZ$1586 million trade deficit in March, when a narrowing of the deficit to NZ$1310 million was expected. This is bullish for NZDUSD.
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