the NZDUSD
New Zealand dollar / US dollar
Understanding NZD/USD: A Comprehensive Guide NZD/USD is a commonly offered currency pair that represents the New Zealand dollar or the Kiwi and the US dollar. The pair is known for dealing with a commodity currency, i.e. the New Zealand dollar, which helps attract risk appetite for forex traders. Like its Antipodean counterpart, the Australian dollar, NZD/USD is seen as a carry trade, in part because interest rate differentials favor the New Zealand dollar. The New Zealand dollar is the seventh most liquid pair in the world at that time
Understanding NZD/USD: A Comprehensive Guide NZD/USD is a commonly offered currency pair that represents the New Zealand dollar or the Kiwi and the US dollar. The pair is known for dealing with a commodity currency, i.e. the New Zealand dollar, which helps attract risk appetite for forex traders. Like its Antipodean counterpart, the Australian dollar, NZD/USD is seen as a carry trade, in part because interest rate differentials favor the New Zealand dollar. The New Zealand dollar is the seventh most liquid pair in the world at that time
Read this term It moved higher today based on the lows against the swing zone near the 0.60829 level before moving to the upside and breaking out of the trading range that has been up and down until today (largely below the 0.6100 level).
Today’s move higher extended the week’s range and moved up to test the 38.2% retracement of the May trading range. The retracement level came at 0.61367 and this is where the price stopped.
If the buyers are to take more control, passing the 38.2% retracement is the minimum retracement level needed to show that they are serious about moving against the current trend. In the absence of that, the uptrend is just a “plain vanilla” correction.
So as we head into the new trading week, some 38.2% retracement would need to be seen going forward. If the price can move above this level 200 days moving average
moving average
A moving average is a statistical tool used to smooth out short-term fluctuations in data and reveal long-term trends. It is calculated by taking the average of a given number of data points over a specified period of time, and then plotting that average as a line on the graph. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA). In the financial markets, moving averages are often used to analyze stock prices, exchange rates, etc.
A moving average is a statistical tool used to smooth out short-term fluctuations in data and reveal long-term trends. It is calculated by taking the average of a given number of data points over a specified period of time, and then plotting that average as a line on the graph. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA). In the financial markets, moving averages are often used to analyze stock prices, exchange rates, etc.
Read this term At the level of 0.6148 will be the next closing hurdle. The price in NZDUSD has not been above the 200-day moving average since the breakout below it on May 24th. A move above this level and 50% of the same move down will target 0.61838
On the downside, failure to clear the 38.2% retracement level will make traders consider a retest of 0.6100. Move below this level and the 100 and 200 hourly moving averages will be in play (blue and green lines on the chart below).
So even though the price is solidly higher in today’s trading, the buyers were unable to break the uptrend and give the buyers more confidence. As a result, traders will enter the new week as the battle continues between buyers and sellers in the NZD/USD pair.
NZDUSD
