NZDUSD Price Gives a Positive Outlook

NZDUSD Analysis-Price Is Set in Place for a Potential Rise 

NZDUSD price gives a positive outlook. The price is viewed to be making an advance forward after sellers took their selling point back to the 0.58030 key zone. The bulls are making an effort to accept the Kiwi price by expanding up to the 0.60340 key zone. The sellers have retested the 0.58030 key zone. So, therefore, the buying stance is still much more positive. The daily chart shows buyers’ interest in making the price push further. A solid crossover is already seen across the price action as buyers are ready to set their sail.

NZDUZD Significant Levels

Resistance Levels: 0.69820, 0.60340 
Support Levels: 0.55590, 0.58030

The bullish trend on the Kiwi price started when the buy candlestick engulfed the selling motion as the price dropped to the 0.55590 significant zone. The sellers were previously more dominant as they began to pull the price motion downward from the 0.69820 key zone. The bearish strength began to drop prices moments lower as prices continued to react lower on the negative slope line. More downpour was experienced as the price broke to swing below the 0.64610 key zone. As the market strength continues, the price took a plunge lower by breaking out of the trend line down to the 0.55590 key zone.

The buyers picked up strength to push further. The buy momentum gave a positive outlook following a cross between the moving average of day 9 and 14. The RSI (Relative Strength Index) is showing positive momentum and hasn’t reached its climax. Buying strength is therefore projected back to the 0.60340 key zone as momentum increases.

Market Expectation

The Kiwi sellers have made more reactions to the 0.58030 key zone. Buying strength is about to set in as the price rides forward to the 0.60340 key level. The Moving Average of days 9 and 14 is set to cross, a signal to go bullish in the market.

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