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NZD USD Technical Analysis - NZD USD Trading: 2023-11-27
NZD/USD Technical Analysis Summary
Above 0.6091
Buy Stop
Below 0.6033
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| 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 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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