NZD USD
Latest NZD USD Analysis and Forecast
Updated January 20th, 2022Hesitant bounce and setback, risk stays lower
Day trade update and view
A cautious Thursday bounce and a setback (as also seen Wednesday), and whilst below .6811 we hold onto negative pressure from Tuesday's sell off through key .6770 support (that shifted the intermediate-term outlook back to bearish), keeping risks lower for Friday.
Day trade setup
- We see a downside bias for .6747 and .6733/30; a break here maybe aims for 6699.
- But above .6811 opens risk up to .6838/42 and possibly key .6891.
Intermediate-term outlook
The push below key .6770 support signalled an intermediate-term shift to a bear trend.
- Upside risks: We see an intermediate-term bear trend to aim for .6699 and .6500.
- What changes this? Above .6891 shifts the intermediate-term bear trend straight to an intermediate-term bull trend.
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Other major currency pairs
BUY - rate is expected to increase, i.e. the first currency gains value against the second currency.
SELL - rate is expected to go down, i.e. the first currency is expected to lose value against the second currency.
Hellow my name is Deogratius Bosha. I am from Tanzania, i trade using Price action strategy and i use Swing method of trading. I use Stochastic as a default indicator. I trade on trending and consolidating market, i do not trade on choppy market
Hi Deogratius, thank you for your comment.
How has your trading been going?