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NZD/USD Technical Analysis - NZD/USD Trading: 2023-03-21
NZD/USD Technical Analysis Summary
Below 0.6181
Sell Stop
Above 0.6214
Stop Loss
| Indicator | Signal |
| RSI | Buy |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(200) | Sell |
| Fractals | Sell |
| 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 has fallen below the 200-period moving average MA(200) which is leveling off. RSI is in oversold zone. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 0.6181. 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 0.6214. After placing the order, the stop loss is to be moved to the 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
New Zealand trade deficit narrowed in February more than expected. Will the NZDUSD price reverse retreating?
New Zealand trade deficit narrowed in February. The Statistics New Zealand reported the 2113 million New Zealand dollar trade deficit in January declined to 714 million of deficit in February when a decline to 1450 million of deficit was expected. This is bullish for NZDUSD. However the current technical setup of NZDUSD is bearish.
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