NZD/USD - Daily - Technical analysis published on 06/10/2023 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Strongly bearish
Technical indicators
39%
17%
44%
My opinion
Bearish under 0.6261 USD
My targets
0.6024 USD (-0.0104)
0.5885 USD (-0.0243)
My analysis
With a strongly bearish trend, the price of NZD/USD is trying to inflate a little while more or less stagnating in the short term. Is the price preparing for a rebound or a bearish rally recovery? Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 0.6261 USD remains possible. It would be possible for traders to only trade short positions (for sale) on NZD/USD as long as the price remains well below 0.6261 USD. The next bearish objective for sellers is set at 0.6024 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 0.5885 USD. In case of crossing, the next objective would be the support located at 0.5772 USD.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
3.6
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This analysis was given by Ahmadjdid. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The NZD/USD price is 0.6128 USD. The price has increased by +0.57% since the last closing with the lowest point at 0.6084 USD and the highest point at 0.6139 USD. The deviation from the price is +0.72% for the low point and -0.18% for the high point.0.6084
0.6139
0.6128
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of NZD/USD indicates that the overall trend is strongly bearish. 82.14% of the signals given by moving averages are bearish. Caution: this global trend is showing signs of running out of steam given the neutral signals of short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, only 7 technical indicators out of 18 studied are currently positioned bullish. Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : Daily
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : Daily
Momentum indicator is back over 0
Type : Bullish
Timeframe : Daily
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 resistance
Type : Bearish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
Resistance of triangle is broken
Type : Bullish
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 | 0.5885 | 0.6024 | 0.6105 | 0.6128 | 0.6261 | 0.6367 | 0.6517 |
Change (%) | -3.97% | -1.70% | -0.38% | - | +2.17% | +3.90% | +6.35% |
Change | -0.0243 | -0.0104 | -0.0023 | - | +0.0133 | +0.0239 | +0.0389 |
Level | Minor | Major | Major | - | Intermediate | Minor | 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 | 0.6040 | 0.6062 | 0.6095 | 0.6117 | 0.6150 | 0.6172 | 0.6205 |
Camarilla | 0.6113 | 0.6118 | 0.6123 | 0.6128 | 0.6133 | 0.6138 | 0.6143 |
Woodie | 0.6046 | 0.6065 | 0.6101 | 0.6120 | 0.6156 | 0.6175 | 0.6211 |
Fibonacci | 0.6062 | 0.6083 | 0.6096 | 0.6117 | 0.6138 | 0.6151 | 0.6172 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 0.5952 | 0.5991 | 0.6060 | 0.6099 | 0.6168 | 0.6207 | 0.6276 |
Camarilla | 0.6098 | 0.6108 | 0.6118 | 0.6128 | 0.6138 | 0.6148 | 0.6158 |
Woodie | 0.5966 | 0.5999 | 0.6074 | 0.6107 | 0.6182 | 0.6215 | 0.6290 |
Fibonacci | 0.5991 | 0.6033 | 0.6058 | 0.6099 | 0.6141 | 0.6166 | 0.6207 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 0.5477 | 0.5731 | 0.5877 | 0.6131 | 0.6277 | 0.6531 | 0.6677 |
Camarilla | 0.5913 | 0.5950 | 0.5986 | 0.6023 | 0.6060 | 0.6096 | 0.6133 |
Woodie | 0.5423 | 0.5704 | 0.5823 | 0.6104 | 0.6223 | 0.6504 | 0.6623 |
Fibonacci | 0.5731 | 0.5884 | 0.5978 | 0.6131 | 0.6284 | 0.6378 | 0.6531 |
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): | 48.91 | |
MACD (12,26,9): | -0.0039 | |
Directional Movement: | -4.8311 | |
AROON (14): | -42.8571 | |
DEMA (21): | 0.6069 | |
Parabolic SAR (0,02-0,02-0,2): | 0.5985 | |
Elder Ray (13): | 0.0013 | |
Super Trend (3,10): | 0.6207 | |
Zig ZAG (10): | 0.6128 | |
VORTEX (21): | 0.8476 | |
Stochastique (14,3,5): | 32.13 | |
TEMA (21): | 0.6050 | |
Williams %R (14): | -55.03 | |
Chande Momentum Oscillator (20): | 0.0024 | |
Repulse (5,40,3): | 1.1377 | |
ROCnROLL: | -1 | |
TRIX (15,9): | -0.0963 | |
Courbe Coppock: | 4.84 |
MA7: | 0.6077 | |
MA20: | 0.6132 | |
MA50: | 0.6191 | |
MA100: | 0.6234 | |
MAexp7: | 0.6087 | |
MAexp20: | 0.6120 | |
MAexp50: | 0.6171 | |
MAexp100: | 0.6200 | |
Price / MA7: | +0.84% | |
Price / MA20: | -0.07% | |
Price / MA50: | -1.02% | |
Price / MA100: | -1.70% | |
Price / MAexp7: | +0.67% | |
Price / MAexp20: | +0.13% | |
Price / MAexp50: | -0.70% | |
Price / MAexp100: | -1.16% |
Quotes :
-
Real time data
-
Forex
News
The latest news and videos published on NZD/USD at the time of the analysis were as follows:
- Technical Analysis: 24/05/2023 - NZDUSD plummets after RBNZ rate decision
- Technical Analysis: 17/05/2023 - NZDUSD battles with 50-day SMA after decline pauses
- Technical Analysis: 10/05/2023 - NZDUSD in crucial battle area ahead of US CPI
- Technical Analysis: 26/04/2023 - NZDUSD fails to jump above the 200-day SMA
- Technical Analysis: 19/04/2023 - NZDUSD range bound ahead of quarterly CPI
This member declared not having a position on this financial instrument or a related financial instrument.
About author
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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