empty
01.08.2021 05:18 PM
Weekly NZDUSD analysis

NZDUSD is trading around 0.6970 for the 4th consecutive week. Each time moves below 0.6950 over the last four weeks, bulls step in and push price higher to close the week above it. This can be seen by the long lower tails in the weekly candlesticks.

This image is no longer relevant

Red line - horizontal support

Blue line - resistance

NZDUSD is testing important weekly support. So far support is being respected. For trend to change to bullish, bulls will need to show some signs of strength. The most important sign would be for price to break above the blue downward sloping trend line resistance and make a weekly close above 0.7020. I would expect a strong move higher if bulls recapture 0.7020.

Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

USDCAD bulls were warned since last week about a coming reversal in trend.

Despite price reaching new higher highs above 1.29, price formation last Friday was bearish as we mentioned in our analysis because of the reversal candlestick pattern. Price today remains under

Alexandros Yfantis 17:14 2021-08-23 UTC+2

Weekly GBPUSD candlestick analysis.

GBPUSD enjoyed a positive week after a bullish hammer candlestick pattern week. Hammer patterns usually are signs of trend change and since the following week was positive, the chances

Alexandros Yfantis 17:12 2021-08-01 UTC+2

Trading Signal for GBP/USD on February 22 - 23, 2021: Key level 1.4014

In the European session on Monday, the GBP/USD pair reached the level of 1.4050 not seen in 35 months. Then, on the 1-hour charts we saw that it left

Dimitrios Zappas 15:14 2021-02-22 UTC+2

EUR/USD: "Engulfing" pattern pushing the price higher

As we can see on the Weekly chart, the lower 'Window' is acting as strong support, so the market is consolidating. There're a variety of bearish and bullish patterns

11:31 2019-01-28 UTC+2

Candlestick analysis of EUR / JPY for July 14

The bovine candle formation "Absorption" and the subsequent bullish formation "Harami" allowed the pair to turn in favor of the European currency and begin to increase in the direction

Samir Klishi 15:02 2017-07-14 UTC+2

Candlestick analysis of NZD / USD for July 14

4h Quotations of the pair NZD / USD continued the growth process and fixed over the correction level of 200.0% - 0.7289. However, the bear formation "Falling Star" allows traders

Samir Klishi 15:02 2017-07-14 UTC+2

Candlestick analysis of NZD / USD on July 12

4h Prices hang up from the correction level of 161.8% to 0.7199 and the formation of bullish Harami candlestick pattern are working in favor of the New Zealand currency

Samir Klishi 10:34 2017-07-12 UTC+2

Candlestick analysis of EUR / JPY on July 12

After the formation of the bearish Harami candlestick pattern, the EUR/JPY pair executed a move in favor of the Japanese currency and began to decline towards the direction

Samir Klishi 09:52 2017-07-12 UTC+2

Candlestick analysis of NZD / USD for July 10

The bear formation of the "Falling Star" and the release of quotations from the Fibo level of 200.0% - 0.7289 made it possible to execute a turn in favor

Samir Klishi 06:28 2017-07-11 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.