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NZD/USD Technical Analysis - NZD/USD Trading: 2023-09-28
NZD/USD Technical Analysis Summary
Above 0.5947
Buy Stop
Below 0.5915
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Neutral |
| MA(200) | Sell |
| Fractals | Buy |
| Parabolic SAR | Buy |
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) which is rising itself. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 0.5947. 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 0.5915. 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 business confidence improved in September. Will the NZDUSD price rebound continue?
New Zealand’s business confidence improved markedly in September. ANZ reported is Business Confidence index rose to 1.5 from -3.5 in August. Readings above 0.0 indicate optimism, below indicate pessimism. Sentiment was negative since early 2021. Improving business confidence is bullish for New Zealand currency and the NZDUSD currency pair.
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