Technical analysis of NZD/USD for March 23, 2018
March 23, 2018 4:22 pmVideo
Latest News
- Outlook for EUR/USD on April 17. A boring Monday seamlessly transitioned into a boring Tuesday April 17, 2024
- Will the euro manage to save itself? April 17, 2024
- Analysis for GBP/USD on April 16th. The pound should not count on support from Powell April 16, 2024
- Analysis for EUR/USD on April 16th. The southern trend has been put on pause for correction April 16, 2024
- USD/JPY: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- GBP/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- Trading Signals for GBP/USD for April 16-18, 2024: buy above 1.2405 or 1.2450 (21 SMA – 0/8 Murray) April 16, 2024
- EUR/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- AUD/USD: Australian dollar remains under pressure April 16, 2024
- GBP/USD: trading plan for the US session on April 16th (analysis of morning deals). The pound was quickly bought back around April 16, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 16-18, 2024: buy above $62,500 (4/8 Murray – 21 SMA) April 16, 2024
- Technical Analysis – USDCAD blossoms ahead of central bank speeches April 16, 2024
- EUR/USD: trading plan for the US session on April 16th (analysis of morning deals). Fewer people are willing to sell euro April 16, 2024
- EUR/USD. April 16th. Bears continue to advance against the backdrop of strong US statistics April 16, 2024
- Euro, sterling extend weakness April 16, 2024
- GBP/USD. April 16th. British statistics didn’t capture traders’ attention April 16, 2024
- Technical Analysis – EURCHF ticks up after strong losses April 16, 2024
- Technical Analysis – JP 225 index tests crucial support zone April 16, 2024
- Market Comment – Stocks slide, dollar soars as rate cut bets take another hit April 16, 2024
- Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500 from Sebastian Seliga April 16, 2024
Overview:
The NZD/USD pair has broken support at the level of 0.7253 which acts as a resistance. According to the previous events, the NZD/USD pair is still moving between the levels of 0.7253 and 0.7151. Therefore, we expect a range of 102 pips in the coming two days. The trend is still below the 100 EMA for that the bearish outlook remains the same as long as the 100 EMA is headed to the downside. Thus, the price area of 0.7253 remains a significant resistance zone. Consequently, there is a possibility that the NZD/USD pair will move downside. The structure of a fall does not look corrective. In order to indicate a bearish opportunity below 0.7253, sell below 0.7253 with the first targets at 0.7200 and 0.7152 in order to form a double bottom. Besides, the weekly support 1 is seen at the level of 0.7152. However, traders should watch for any sign of a bullish rejection that occurs around 0.7253, which is expected to act as a major resistance today. Since the trend is below the 50% Fibonacci level, the market is still in a downtrend. Overall, we still prefer the bearish scenario.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: