NZD/USD: kiwi wants to rise higher

NZD/USD: kiwi wants to rise higher

2019-11-11 • Updated

On the NZD/USD daily chart, bulls managed to return quotes to the upper border of the downward trading channel. If they manage to test it successfully, there will be a continuation of the rally towards  0.711 and 0.717. In contrast, the rollback from upper border can lead to the realization of 5-0 pattern.  

On the NZD/USD hourly chart, quotes are moving within the upward trading channel. it tells us that the control over the pair is in the bulls' hands. A successful test of the resistance at 0.707 followed by the update of March high will activate the AB=CD pattern. Its 200% target is located near 0.718.  

Recommendation: BUY 0,707 SL 0,7015 TP 0,718. 

 

Similar

Trade of The Week: AUDNZD Trade Breakdown
Trade of The Week: AUDNZD Trade Breakdown

The Australian Dollar (AUD) rebounds on Monday, despite a slight dip in the US Dollar (USD) and higher US Treasury yields. Investors are eyeing Australian monthly Consumer Price Index (CPI) data for February and US Gross Domestic Product (GDP) for Q4 2023. The AUD gains momentum as the ASX 200 Index rises, especially in mining and energy sectors. Additionally, the Aussie...

XAUUSD: Markets Slow Down Ahead of NFP
XAUUSD: Markets Slow Down Ahead of NFP

Gold prices rose on Monday as the US Dollar weakened amidst speculation about potential Federal Reserve rate cuts starting in June. This weakened Dollar was partly due to improved risk sentiment pushing US Treasury yields lower. Despite facing challenges from declining yields, gold prices recovered to nearly $2,170 per troy ounce, driven by the Dollar's weakness. Federal Reserve Chair...

CAD: Signs of Growth May Persist
CAD: Signs of Growth May Persist

Canadian retail sales showed a slight rebound in February, rising by 0.1% after a 0.3% drop in January. However, this failed to fully offset the steeper decline earlier in the year, suggesting a weakening momentum in consumer spending. The increase in February was driven by gains in sectors such as sporting goods, hobby retailers, and building materials. Despite the...

Latest news

CAD: Markets Await GDP Release
CAD: Markets Await GDP Release

During the Asian session on Wednesday, the USD/CAD pair rebounded after two days of losses, reaching around 1.3590. This uptick is fueled by a stronger US dollar and lower crude oil prices, which put pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 is attributed to...

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera