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Nzdusdlong

NZDUSD H1: Bearish outlook seen, potential reversal below 0.6200On the H1 time frame, prices are approaching the resistance zone at 0.6200, in line with the graphical support-turned-resistance level and 38.2% Fibonacci retracement. A pullback to the resistance zone at 0.6200 presents an opportunity to play the drop to the next support target at 0.61550 which coincides with the graphical support zone. Prices are holding below the Ichimoku cloud as well, supporting the bearish bias.
Short
by T3-Consultancy
NZDUSD buying opportunity | 25 Nov 2022On the H1 timeframe, prices are on an uptrend which surpassed the resistance turned support zone at 0.61800. Price has thus approached the 0.62780 resistance where a break to the upside could see prices push higher. Given the slower than expected rate hikes of the Fed which has weighed down the Dollar, coupled with the historic rate hike of 75 bps by the RBZ recently, we expect the current bullish trend to extend to the next resistance zone at 0.64500. Stochastic RSI has dipped into the oversold region as well, supporting our bullish bias.
Long
by T3-Consultancy
NZDUSD M30: Bearish outlook seen, further downside below 0.61200On the M30 time frame, prices are showing bearish order flow and facing bearish pressure from the resistance at 0.61200, in line with the graphical resistance zone. We could see a further downside below this level and a pullback presents an opportunity to play the drop, with further downside seen to the support zone at 0.60300, which is the H4 demand zone. This 0.60300 support zone lines up with the graphical support and 38.2% Fibonacci retracement. Stochastic is testing resistance at 99.57 as well where we could see a reversal below this level, supporting the bearish bias.
Short
by T3-Consultancy
Buying NZDUSD at previous resistance.NZDUSD - 22h expiry - We look to Buy at 0.5850 (stop at 0.5779) Previous support located at 0.5850. Previous resistance located at 0.5950. Further upside is expected although we prefer to set longs at our bespoke support levels at 0.5850, resulting in improved risk/reward. A move through 0.5950 will confirm the bullish momentum. Our profit targets will be 0.5998 and 0.6049 Resistance: 0.5900 / 0.5950 / 0.6000 Support: 0.5850 / 0.5800 / 0.5775 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
Fading into NZDUSD move lower.NZDUSD - 22h expiry - We look to Buy at 0.5750 (stop at 0.5675) Previous support located at 0.5750. Previous resistance located at 0.5800. A lower correction is expected. Risk/Reward would be poor to call a buy from current levels. A move through 0.5800 will confirm the bullish momentum. Our profit targets will be 0.5900 and 0.5950 Resistance: 0.5800 / 0.5900 / 0.5950 Support: 0.5750 / 0.5700 / 0.5675 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA