NZD/USD - Daily - Technical analysis published on 03/20/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Bearish
Technical indicators
6%
83%
11%
My opinion
Bearish under 0.6106 USD
My targets
0.5974 USD (-0.0065)
0.5870 USD (-0.0169)
My analysis
There is a bearish trend on NZD/USD both at the basic level and in the short term. A sale could be considered, so long as the price remains below 0.6106 USD. Each support break is a strong signal that the current trend will continue. The first bearish objective would be 0.5974 USD. Then the price could move towards 0.5870 USD. Then 0.5792 USD by extension. Be careful, a return to above the resistance 0.6106 USD would be a sign of a weakening of the trend and a possible rebound phase could then occur. In this case, you could keep away while waiting for a signal that the basic trend will resume. Trading against the trend is perhaps more risky.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
5.9
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This analysis was given by robbbinbanks. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The NZD/USD rating is 0.6039 USD. The price registered a decrease of -0.13% on the session and was traded between 0.6025 USD and 0.6056 USD over the period. The price is currently at +0.23% from its lowest and -0.28% from its highest.0.6025
0.6056
0.6039
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in Daily of this NZD/USD chart shows a bearish trend. The signals given by moving averages are at 64.29% bearish. This bearish trend shows slight signs of slowing down given the slightly bearish signals of short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 15 technical indicators on 18 studied are currently bearish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : Daily
Support of channel is broken
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.5792 | 0.5870 | 0.5974 | 0.6039 | 0.6054 | 0.6106 | 0.6178 |
| Change (%) | -4.09% | -2.80% | -1.08% | - | +0.25% | +1.11% | +2.30% |
| Change | -0.0247 | -0.0169 | -0.0065 | - | +0.0015 | +0.0067 | +0.0139 |
| Level | Intermediate | Intermediate | Minor | - | Major | Intermediate | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.5977 | 0.6006 | 0.6026 | 0.6055 | 0.6075 | 0.6104 | 0.6124 |
| Camarilla | 0.6034 | 0.6038 | 0.6043 | 0.6047 | 0.6052 | 0.6056 | 0.6061 |
| Woodie | 0.5974 | 0.6004 | 0.6023 | 0.6053 | 0.6072 | 0.6102 | 0.6121 |
| Fibonacci | 0.6006 | 0.6024 | 0.6036 | 0.6055 | 0.6073 | 0.6085 | 0.6104 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.5938 | 0.6008 | 0.6044 | 0.6114 | 0.6150 | 0.6220 | 0.6256 |
| Camarilla | 0.6050 | 0.6060 | 0.6069 | 0.6079 | 0.6089 | 0.6098 | 0.6108 |
| Woodie | 0.5920 | 0.6000 | 0.6026 | 0.6106 | 0.6132 | 0.6212 | 0.6238 |
| Fibonacci | 0.6008 | 0.6049 | 0.6074 | 0.6114 | 0.6155 | 0.6180 | 0.6220 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.5831 | 0.5934 | 0.6011 | 0.6114 | 0.6191 | 0.6294 | 0.6371 |
| Camarilla | 0.6038 | 0.6054 | 0.6071 | 0.6087 | 0.6104 | 0.6120 | 0.6137 |
| Woodie | 0.5817 | 0.5928 | 0.5997 | 0.6108 | 0.6177 | 0.6288 | 0.6357 |
| Fibonacci | 0.5934 | 0.6003 | 0.6046 | 0.6114 | 0.6183 | 0.6226 | 0.6294 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 35.98 | |
| MACD (12,26,9): | -0.0017 | |
| Directional Movement: | -14.4083 | |
| AROON (14): | -57.1429 | |
| DEMA (21): | 0.6096 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.6198 | |
| Elder Ray (13): | -0.0063 | |
| Super Trend (3,10): | 0.6168 | |
| Zig ZAG (10): | 0.6036 | |
| VORTEX (21): | 0.8831 | |
| Stochastique (14,3,5): | 7.41 | |
| TEMA (21): | 0.6083 | |
| Williams %R (14): | -94.27 | |
| Chande Momentum Oscillator (20): | -0.0059 | |
| Repulse (5,40,3): | -1.2248 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0106 | |
| Courbe Coppock: | 1.20 |
| MA7: | 0.6097 | |
| MA20: | 0.6126 | |
| MA50: | 0.6126 | |
| MA100: | 0.6123 | |
| MAexp7: | 0.6084 | |
| MAexp20: | 0.6113 | |
| MAexp50: | 0.6125 | |
| MAexp100: | 0.6115 | |
| Price / MA7: | -0.95% | |
| Price / MA20: | -1.42% | |
| Price / MA50: | -1.42% | |
| Price / MA100: | -1.37% | |
| Price / MAexp7: | -0.76% | |
| Price / MAexp20: | -1.23% | |
| Price / MAexp50: | -1.42% | |
| Price / MAexp100: | -1.26% |
Quotes :
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Real time data
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Forex
News
The last news published on NZD/USD at the time of the generation of this analysis was as follows:
-
Technical Analysis: 20/03/2024 - NZDUSD in the red again ahead of the Fed
-
Technical Analysis: 07/02/2024 - NZDUSD bounces off 2-month low
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Technical Analysis: 24/01/2024 - NZDUSD continues to trade sideways
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Technical Analysis: 17/01/2024 - NZDUSD plummets below 50-day SMA
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Technical Analysis: 13/12/2023 - NZDUSD corrects lower but 200-day SMA curbs retreat
This member declared not having a position on this financial instrument or a related financial instrument.
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