NZD/USD Technical Analysis | NZD/USD Trading: 2023-05-19 | IFCM UK
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NZD/USD Technical Analysis - NZD/USD Trading: 2023-05-19

NZD/USD Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Above 0.6290

Buy Stop

Below 0.6234

Stop Loss

Ara Zohrabian
Senior Analytical Expert
Articles 2371
RSI Sell
Donchian Channel Buy
MA(200) Buy
Fractals Buy
Parabolic SAR Buy

NZD/USD Chart Analysis

NZD/USD Chart Analysis

NZD/USD Technical Analysis

The technical analysis of the NZDUSD price chart on 1-hour timeframe shows NZDUSD: H1 has breached above the 200-period moving average MA(200). The RSI indicator has entered the overbought zone. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 0.6290. 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 0.6234. After placing the order, the stop loss is to be moved to the next fractal low, 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 trade balance turned positive in April. Will the NZDUSD price persist advancing?

New Zealand’s trade balance turned positive in April: the Statistics New Zealand reported New Zealand recorded NZ $427 million surplus in April after NZ$1586 million trade deficit in March, when a narrowing of the deficit to NZ$1310 million was expected. 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.

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