#NZDUSD @ 0.63328 bulls burst to life in US session. (Pivot Orderbook analysis)
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level1)]
- NZD/USD bulls burst to life in US session.
- All eyes will be on the US CPI data for next clues.
The pair currently trades last at 0.63328.
The previous day high was 0.636 while the previous day low was 0.6292. The daily 38.2% Fib levels comes at 0.6334, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.6318, expected to provide support.
NZD/USD is on the backside of the prior bearish trend and is breaking higher from the double-bottom lows put in on the 15-minute chart in the US session on Tuesday. The pair have traveled from those lows of 0.6318 to a US session high of 0.6337 as the day draws to a close.
´´Being long the Kiwi remains one of the market’s preferred ways to fade USD strength as the US rate hike cycle matures, markets press for cuts and the USD loses some of its erstwhile richness to fair value,´´ analysts at ANZ Bank argued.
´´Tonight’s US Consumer Price Index data will be key as markets eye an end to the hiking cycle; if that thesis is refuted, there will be volatility.´´
´´Core prices likely stayed firm in April, with the index rising a strong 0.4% MoM for a second straight month, as goods inflation likely continued to strengthen,´´ analysts at TD Securities said.
´´Shelter prices likely remained the key wildcard (we look for a rebound), while rising gas prices (+2.6% MoM) will likely lift non-core inflation. Our MoM forecasts imply 5.0%/5.5% YoY for total/core prices,´´ the analysts explained.
Technical Levels: Supports and Resistances
NZDUSD currently trading at 0.6335 at the time of writing. Pair opened at 0.6344 and is trading with a change of -0.14 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.6335 |
| 1 | Today Daily Change | -0.0009 |
| 2 | Today Daily Change % | -0.1400 |
| 3 | Today daily open | 0.6344 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 0.6203, 50 SMA 0.6214, 100 SMA @ 0.6279 and 200 SMA @ 0.616.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.6203 |
| 1 | Daily SMA50 | 0.6214 |
| 2 | Daily SMA100 | 0.6279 |
| 3 | Daily SMA200 | 0.6160 |
The previous day high was 0.636 while the previous day low was 0.6292. The daily 38.2% Fib levels comes at 0.6334, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.6318, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 0.6304, 0.6264, 0.6236
- Pivot resistance is noted at 0.6372, 0.64, 0.644
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.6360 |
| Previous Daily Low | 0.6292 |
| Previous Weekly High | 0.6316 |
| Previous Weekly Low | 0.6160 |
| Previous Monthly High | 0.6389 |
| Previous Monthly Low | 0.6111 |
| Daily Fibonacci 38.2% | 0.6334 |
| Daily Fibonacci 61.8% | 0.6318 |
| Daily Pivot Point S1 | 0.6304 |
| Daily Pivot Point S2 | 0.6264 |
| Daily Pivot Point S3 | 0.6236 |
| Daily Pivot Point R1 | 0.6372 |
| Daily Pivot Point R2 | 0.6400 |
| Daily Pivot Point R3 | 0.6440 |
[/s2If]
Nehcap Expert Advisor
The NEHCAP MT4 EA is high quality professional trading system geared to generate returns without using GRID or martingales. Each trade has strict risk per trade parameter. The pairs under management include EURUSD, GBPUSD, AUDCAD, AUDNZD,GBPAUD, EURAUD, EURCAD, CHFJPY and many more.
The system is trading live: LIVE ACCOUNT TRACKING
You can run it free. Apply for a free trial and track our account. Buy the system or use profit share mechanism to generate returns on your MT4.
Join Our Telegram Group
