19.09.202307:41 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of NZD/USD Commodity Currency Pairs, Tuesday September 19, 2023

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.

Even though on the 4-hour chart the NZD/USD commodity currency pair appears to be moving in a Sideways condition (Blue box) where this is confirmed by the WMA (20) which moves between the Candle-Candle bodies, but Sellers are still trying to dominate the Kiwi, this can be seen by the CCI indicator which managed to penetrate below the three main levels (100, 0, -100) where in the near future NZD/USD will try to test the level below its current price, namely level 0.5876 if this level is successfully broken and as long as there is no upward correction that exceeds level 0.593, then NZD/USD will continue its decline to the level of 0.5855.

(Disclaimer)

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.