Technical Analysis NZDUSD : 2021-03-24

[IFC Markets]

Recommendation for NZD/USD:Sell​

Sell Stop : Below 0,7

Stop Loss : Above 0,747



RSI : Sell

MACD : Sell

MA(200) : Neutral

Fractals : Sell

Parabolic SAR : Sell

Bollinger Bands : Neutral

Chart Analysis​

On the daily timeframe, NZDUSD: D1 breached down the uptrend support line. A number of technical analysis indicators generated signals for further decline. We do not exclude a bearish movement if NZDUSD: D1 falls below the lower Bollinger band: 0.7. This level can be used as an entry point. We can place a stop loss above the high since July 2017, the upper Bollinger band and the Parabolic signal: 0.747. After opening a pending order, we can move the stop loss to the next fractal maximum following the Bollinger and Parabolic signals. Thus, we change the potential profit/loss ratio in our favor. After the transaction, the most risk-averse traders can switch to the four-hour chart and set a stop loss, moving it in the direction of the bias. If the price meets the stop loss (0.747) without activating the order (0.7), it is recommended to delete the order: the market sustains some internal changes that have not been taken into account.

Fundamental Analysis​

The New Zealand government canceled tax breaks for real estate investors. Will the NZDUSD quotes continue to decline? The purpose of the change in tax legislation is to reduce the cost of housing in New Zealand at the expense of rentiers. The government decided to do this by reducing the ROI in real estate, allocated for the subsequent rental of housing. Тhe decision of Australia and New Zealand to support Western sanctions against China based on the situation in the Xinjiang Uygur Autonomous Region of the PRC may have a negative impact on the New Zealand dollar: China is a major buyer of New Zealand goods. We can also note weak economic data: spending on e-cards in December and January fell more than expected. New Zealand's trade balance for February will be released Wednesday morning, which may affect the dynamics of the New Zealand dollar.

 

[Shahzadahmed]

we predict future values with technical analysis for wide selection of Forex (Foreign Exchange) pairs like NZD to USD . If you are looking for foreign exchange rates with good return, NZD to USD can be a bad, high-risk 1-year investment option. NZD/USD rate equal to 0.697 at 2021-03-24, but your current investment may be devalued in the future.