NZD/USD Price Analysis: Bears tests critical support of 20-day SMA
08.07.2024, 22:28

NZD/USD Price Analysis: Bears tests critical support of 20-day SMA

  • NZD/USD saw slight losses but maintained a position above the crucial 20-day SMA support around 0.6120.
  • The technical outlook remains positive, despite Monday's bearish activity.
  • Bears are testing the 20-day SMA strength.

On Monday, the NZD/USD struggled, losing 0.30% to 0.6125, erasing its daily gains. Despite this, the pair successfully defended its position above the 20-day Simple Moving Average (SMA) support level at 0.6120, a feat securely achieved in the past week.

As for the daily technical indicators, the Relative Strength Index (RSI) now stands at 53, showing a downward movement, indicating that the bullish momentum took a slight hit. The Moving Average Convergence Divergence (MACD) keeps on printing decreasing red bars, noting the fading bearish strength.

NZD/USD daily chart

From the perspective of resistances, the 0.6170 level is the immediate challenge, which is trailed closely by the significant 0.6200 mark. A firm break above these levels can be viewed as a full confirmation of the recent bullish momentum, taking the pair deeper into bullish territory.

Ahead lies immediate support near the 20-day SMA at 0.6120, with stronger support at the decisive 0.6070 mark. If the sellers manage to lower the price below these supports, it will indicate a developing selling pressure that could lead to a deeper corrective decline.

© 2000-2024. Sva prava zaštićena.

Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

Politika sprečavanja pranja novca

Upozorenje o rizicima

Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.

Politika poverenja

Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.

Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.

Банковни
транcфери
Feedback
Lajv čet E-mail
Povratak na vrh
Izaberi lokaciju / jezik