For Traders

Analytical Reviews

Forecast

27.05.202208:15 Forex Analysis & Reviews: NZD/USD buyers in control

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

NZD/USD 0.6545 Key Level!

The NZD/USD pair extended its growth and now is trading at 0.6512 at the time of writing. As long as it stays above the uptrend line, the pair could approach and reach new highs. Its failure to reach and retest the uptrend line signaled strong buyers.

As you can see on the H4 chart, the 0.6545 former high represents a potential upside obstacle. In the short term, we cannot exclude a temporary drop towards the uptrend line. NZD/USD could come back to test and retest this downside obstacle before resuming its growth.

NZD/USD Forecast!

A minor drop towards the uptrend line could bring new buying opportunities. Only dropping and stabilizing below the uptrend line could invalidate an upside continuation.

Also, jumping and stabilizing above 0.6545 could activate a larger growth.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.