NZD/USD Currency Pair Forecast

NZD/USD currency pair price ended at $0.612 on Friday, after losing 0.0229%.
(Updated on Jun 21, 2024)

NZDUSD Signals & Forecast

The NZD/USD currency pair holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the currency pair giving a positive forecast for the stock. On further gains, the currency pair will meet resistance from the short-term Moving Average at approximately $0.614. On a fall, the currency pair will find some support from the long-term average at approximately $0.611. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -1.23%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this currency pair may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. The currency pair had a Golden Star Signal on Thursday, May 02, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the currency pair in question.

Support, Risk & Stop-loss for NZD/USD currency pair

NZD/USD finds support from accumulated volume at $0.610 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the currency pair tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the currency pair During the last day, the currency pair moved $0.0025 between high and low, or 0.417%. For the last week the currency pair has had daily average volatility of 0.505%

Our recommended stop-loss: $0.581 (-5.01%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 51 days ago.)

Trading Expectations (NZDUSD) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect NZD/USD to open at $0.612, and during the day (based on 14 day Average True Range), to move between $0.608 and $0.616, which gives a possible trading interval of +/-$0.0041 (+/-0.68%) up or down from last closing price. If NZD/USD takes out the full calculated possible swing range there will be an estimated 1.35% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.610 (0.24%) than the resistance at $0.614 (0.34%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is NZD/USD currency pair A Buy?

NZD/USD holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.045 Hold/Accumulate Unchanged

Predicted Opening Price for NZD/USD of Monday, June 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.