empty
 
 
15.05.2023 05:20 AM
Technical Analysis of Intraday Price Movement of NZD/USD Commodity Currency Pairs, Monday May 15, 2023.

This image is no longer relevant

If we look at the 4 hour chart of NZD/USD currency pairs there is a few interesting things:

1. The appearance of Double Top pattern.

2. Price movement below its moving average.

3. osMA Indicator is in negative area (Bear).

Based on three things above then seems like Kiwi on the nearest future has the potential to go downward to the level 0,6129 as the main target and level area 0,6062-0,5989 as the second target. Even so the Kiwi still has the opportunity to be corrected upwards as well but during its journey towards these targets if there is an upward correction and does not exceed the level 0.6341 then the Kiwi still has the potential to fall down.

(Disclaimer)

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback