NZD/USD Price Prediction: Rolls over and falls sharply to key support
03.10.2024, 13:50

NZD/USD Price Prediction: Rolls over and falls sharply to key support

  • NZD/USD has rolled over and fallen to key support at around 0.6220. 
  • It may have formed a bearish Japanese candlestick pattern and the MACD has crossed below its signal line. 

NZD/USD reaches a key resistance band at around the 0.6400 level and promptly reverses lower. It is in the process of forming three consecutive bearish days which in Japanese candlestick analysis is a bearish reversal sign called a “Three Black Crows” pattern (light blue shaded rectangle on chart below). If Thursday (today) ends as a long red candle it will confirm completion of such a pattern. 

NZD/USD Daily Chart 


 

The move down from the September 30 peak has been sharp and accompanied by equally bearish momentum, increasing the chances it could extend further. However, it has just met a formidable support level at around 0.6220 composed of multiple price peaks in the first half of 2024. This is likely to pose an obstacle to bears wishing to push prices lower.

The blue Moving Average Divergence Convergence (MACD) has crossed below its red signal line which is a bearish signal. 

There is a risk the market may be reversing and further downside could follow. This would particularly be the case if prices closed substantially below the 0.6220 support level, perhaps at 0.6200 or lower. 

However, such a move would soon meet further tough support from the cluster of major Simple Moving Averages (SMA) not far below, starting with the 50-day SMA at 0.6141, but followed by the 100 and 200-days at roughly 0.6120 and 0.6101 respectively. 

Further, it is also possible the Kiwi pair could rally from the current support level in the 0.6220s and resume its prior more-bullish trend. Yet any substantial upside progress is likely to be stymied by tough resistance at around 0.6400 from prior highs in July and December 2023.

 

© 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