NZDUSD currency pair has been trading sideways recently. Looking at the D1 interval, buyers struggle to break above the resistance zone at 0.7305. In turn, the zone at 0.7130 acts as a support, where demand has appeared many times. Therefore, it seems that only overcoming one of the above-mentioned areas could lead to a greater price movement. In the event of a break above the resistance, a move towards the recent highs at 0.7440 would be possible. On the other hand, if the support is negated, the sell-off could even reach recent lows at 0.6950.
NZDUSD interval D1. Source: xStation5
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appAs for the lower time frame - H4, the last corrective moves (marked with red rectangles) were of the same range, which, according to the Overbalance methodology, indicates that buyers have an advantage. If the current sentiment prevails, then another upward impulse towards resistance at 0.7305 may be launched.
NZDUSD interval H4. Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
