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NZD/USD Technical Analysis - NZD/USD Trading: 2023-12-22
NZD/USD Technical Analysis Summary
Above 0.6297
Buy Stop
Below 0.6238
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Neutral |
| MA(200) | Buy |
| Fractals | Neutral |
| 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 retracing down toward the 200-period moving average MA(200) after hitting five-month high two days ago. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 0.6297. 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 0.6238. 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
New Zealand’s consumer credit card resumed growing in November. Will the NZDUSD price continue advancing?
Reserve Bank of New Zealand reported total spending growth facilitated with a credit card resumed growing in November: Credit Card Spending rose in 3.3% over year in November after 2.8% decline a month before. Higher consumer spending is bullish for a currency: it indicates consumers are confident in their financial prospect and eager to spend money. At the same time the US Commerce Department revised US growth at 4.9% per cent in the third quarter, down from a prior estimate of 5.2% due to lower consumer spending. This is bullish for NZDUSD.
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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.