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Weekly forecast New Zealand Dollar / US Dollar technical chart
Symbol NZDUSD

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateApril 18, 2020 - 21:47
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 0.62050, resumption of downtrend is expected.
  • We make sure when the support at 0.58400 breaks.
  • If the resistance at 0.62050 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 0.5920 on 04/16/2020, so more gains to resistance(s) 0.6070 and maximum to Major Resistance (0.6205) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 50.

Supports and Resistances:

  1. 0.6755
  2. 0.6580
  3. 0.6485
  4. 0.6425
  5. 0.5585
  6. 0.5470
  7. 0.4900
Click on the level to view price action history.