NZD/USD: technical analysis

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07/11/2018

NZD/USD, D1

On the daily chart, the instrument was corrected to the midline of Bollinger bands, the price range narrowed. MACD histogram is in the negative area, keeping the signal to open short positions. Stochastic is preparing to leave the overbought area, the signal line of the oscillator is reversed downwards.

NZD/USD, H4

On the 4-hour chart, the instrument moves sideways within Bollinger bands. MACD histogram is in the positive area, smoothly reducing its volumes. Stochastic is around ​​the border of the oversold area, the oscillator lines are directed downwards.

Key Levels

Resistance levels: 0.6920, 0.6935, 0.6950, 0.6975, 0.7000.

Support levels: 0.6800, 0.6779, 0.6745, 0.6715, 0.6690.

Trading tips

In the short term, short positions can be opened from the level of 0.6800 with the target at 0.6745 and stop loss 0.6830.

Long positions can be opened from the level of 0.6880 with the target at 0.6935. Stop loss is 0.6850.

Implementation period: 1–3 days.

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