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NZD/USD Technical Analysis - NZD/USD Trading: 2022-09-29
NZD/USD Technical Analysis Summary
Above 0.5717
Buy Stop
Below 0.5647
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Buy |
| MA(200) | Sell |
| Fractals | Sell |
| Parabolic SAR | Buy |
NZD/USD Chart Analysis
NZD/USD Technical Analysis
The NZDUSD technical analysis of the price chart on 1-hour timeframe shows NZDUSD: H1 is rising after retracing down following a rebound to three-day high ten hours ago under the 200-period moving average MA(200) which is falling itself. We believe the bullish momentum will resume after the price breaches above the upper bound of the Donchian channel at 0.5717. 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 0.5647. 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 business confidence in September is less downcast than a month ago. Will the NZDUSD price continue advancing?
New Zealand business confidence in September is less downcast than a month ago: The Australia and New Zealand bank reported the ANZ Business Confidence index recovered to -36.7 in September from -47.8 in August. Readings above 0 indicate optimism, below indicate pessimism. This is bullish for NZDUSD.
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