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NZD USD Technical Analysis - NZD USD Trading: 2024-01-10
NZD/USD Technical Analysis Summary
Above 0.6247
Buy Stop
Below 0.6230
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Buy |
| MA(200) | Sell |
| 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 is rebounding toward the 200-period moving average MA(200) after retracing to two-day low yesterday. We believe the bullish momentum will continue after the price breaches above 0.6247. 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 0.6230. After placing the order, the stop loss is to be moved to the next fractal low 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 of Forex - NZD/USD
Dairy auction prices continued rising in New Zealand. Will the NZDUSD price rebound continue?
Dairy auction prices continued rising in New Zealand albeit at slower rate: the GlobalDairyTrade (GDT) data indicated the GDT Price Index, which measures the average price of dairy products sold at auction in New Zealand, gained 1.2% in the first auction of 2024 after 2.3% rise two weeks previously. Dairy products are a major export income source for New Zealand. This is bullish for NZDUSD. At the same time the head of New Zealand’s central bank acknowledged the unexpected weakness in recent New Zealand growth data, supporting views of earlier reduction to the Official Cash Rate (OCR), which is bearish for New Zealand dollar and NZDUSD pair.
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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.