NZD USD Technical Analysis | NZD USD Trading: 2023-11-27 | IFCM
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NZD USD Technical Analysis - NZD USD Trading: 2023-11-27

NZD/USD Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Above 0.6091

Buy Stop

Below 0.6033

Stop Loss

Ara Zohrabian
Senior Analytical Expert
Articles 2427
RSI Neutral
Donchian Channel Buy
MA(200) Buy
Fractals Buy
Parabolic SAR Buy

NZD/USD Chart Analysis

NZD/USD Chart Analysis

NZD/USD Technical Analysis

The technical analysis of the NZDUSD price chart on 4-hour timeframe shows NZDUSD,H4 is rebounding above the 200-period moving average MA(200) after returning above MA(200) two weeks ago. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 0.6091. 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 0.6033. 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 retail spending halted falling in Q3 2023. Will the NZDUSD price continue rebounding?

New Zealand retail spending halted falling in Q3 2023. The Statistics New Zealand reported retail sales was unchanged over quarter in September quarter after 0.9% fall in Q2 when an 0.8% decline was expected. Furthermore, Q3 core retail spending fall reversed: the total volume of inflation-adjusted sales at the retail level, excluding automobiles and gas stations, rose 1.0% after 1.6% fall in Q2 when an 1.5% decline was expected. Better than expected consumer retail spending is bullish for the New Zealand dollar and hence the NZDUSD.

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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.

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