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

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (0.6140 to 0.6175). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.6140)
    • Resistance on 10/09/2008
    • Support on 10/14/2008
    • Support on 10/20/2008
    • Resistance on 10/22/2008
    • Resistance on 11/04/2008
    • Resistance on 05/11/2009
    • Support on 05/27/2009
    • Support on 05/28/2009
    • Support on 06/08/2009
    • Support on 08/24/2015
    • Support on 03/09/2020
    • Resistance on 03/13/2020
    • Resistance on 03/16/2020
    • Resistance on 04/29/2020
    • Resistance on 04/30/2020
  • Ending of entry zone (0.6175)
    • Support on 10/06/2008
    • Support on 10/07/2008
    • Resistance on 10/09/2008
    • Support on 10/14/2008
    • Resistance on 10/16/2008
    • Resistance on 10/17/2008
    • Resistance on 05/22/2009
    • Support on 06/08/2009
    • Support on 06/09/2009
    • Support on 08/24/2015
    • Support on 03/09/2020
    • Resistance on 03/13/2020
    • Peak on 04/30/2020
    • Resistance on 04/30/2020

DateMay 9, 2020 - 21:08
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 0.62650, resumption of downtrend is expected.
  • We make sure when the support at 0.58400 breaks.
  • If the resistance at 0.62650 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 0.5989 on 05/06/2020, so more gains to resistance(s) 0.6140, 0.6175, 0.6205 and maximum to Major Resistance (0.6265) 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 58.

Take Profits:

  1. 0.6030
  2. 0.5930
  3. 0.5840
  4. 0.5755
  5. 0.5585
  6. 0.5470
Click on the level to view price action history.