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NZD USD Technical Analysis - NZD USD Trading: 2024-05-16
NZD/USD Technical Analysis Summary
Below 0.6110
Sell Stop
Above 0.6140
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(200) | Buy |
| Fractals | Neutral |
| Parabolic SAR | Sell |
NZD/USD Chart Analysis
NZD/USD Technical Analysis
The technical analysis of the NZDUSD price chart on 1-hour timeframe shows NZDUSD: H1 is retracing down toward the 200-period moving average MA(200) as the price peaked today. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 0.6110. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 0.6140. After placing the order, the stop loss is to be moved to the next fractal high 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
Visitor arrivals number growth accelerated in New Zealand. Will the NZDUSD price reverse its retreating?
Visitor arrivals number growth accelerated in New Zealand in March: it increased 9.1% over month after 1.6% growth in February, according to Statistics New Zealand report. The growth in overseas visitor arrivals amounted to 44.8% over year in March reaching 3.18 million. 7% of the New Zealand population is employed by the tourism industry and rising tourist visits is bullish for New Zealand dollar and the NZDUSD pair. However the current setup is bearish for the pair.
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