Important NZD Pairs’ Technical Overview: 21.03.2018

Anil Panchal
Important NZD Pairs’ Technical Overview: 21.03.2018
stock ticker

NZD/USD

With its sustained trading beneath 200-day SMA, the NZDUSD is likely to extend recent drop towards 0.7140 and then to the 100-day SMA level of 0.7120 unless it trades below the 0.7185 SMA figure. If prices continue declining after 0.7120, the 0.7070, the 0.7055 and the 0.7030-35 may become sellers’ follow-on targets. On the contrary, a daily closing beyond 0.7185 could help the pair to revisit the 0.7215 and the 0.7250 resistances ahead of confronting the 50-day SMA level of 0.7290. During the pair’s additional upside past 0.7290, a downward slanting TL figure of 0.7335 and the 0.7375 could become important to watch.

EUR/NZD

Alike NZDUSD, the EURNZD is also near to important resistance, i.e. the 1.7130-40 horizontal-line, which may confine the pair’s up-moves and signal chances of it pullback to 0.7040 and then to the 1.6970 immediate supports. Should the pair witness increased selling pressure after 1.6970, the 50-day SMA level of 1.6890 and an ascending TL support mark of 1.6845 may grab market attention. Given the pair’s ability to provide a D1 close above 1.7140, the 1.7220, the 1.7250 and the 1.7330 are likely consecutive resistances to appear on the chart. Assuming Bulls dominance over the quote beyond 1.7330, the 1.7400 and the 1.7480 could come-back as levels prior to highlighting 61.8% FE level of 1.7720.

AUD/NZD

Even if the AUDNZD took a U-turn from 1.0630, it can’t be termed strong even for short-term unless it clears the nearby TL resistance-mark of 1.0770 and the 50-day SMA level of 1.0810. Let’s say the pair manages to conquer the 1.0810 on a daily closing basis, the 1.0860 and the 1.0920 might please the optimists. Alternatively, the 1.0690, the 1.0655 and the 1.0630 could serve as adjacent rests during the pair’s pullback, which if broken could push the Bears to target 1.0605–1.0595 horizontal-area. In case of the pair’s extended south-run beneath 1.0595, the 1.0530 and the 1.0490 can be aimed while being short.

NZD/CAD

Ever since the NZDCAD broke 0.9435-40 horizontal-region, it kept declining and is presently struggling around the lowest point in nearly two-weeks. While oversold RSI indicates the pair’s pullback, expected dovish outcome of the RBNZ and comparative strength of the CAD favors the downward trajectory. Currently, the 0.9330 and the 0.9300 can offer immediate support to the pair before the 0.9290-85 zone comes into play. If the pair refrains to respect the 0.9285 support, the 0.9265, the 0.9240 and the 0.9200 can be considered as important levels to observe.  Meanwhile, the 0.9360, the 0.9385 and the 0.9410 can act as nearby barriers for the pair to clear in order to confront the 0.9435-40 resistance-region. Should the pair surpass the 0.9440 resistance, the 0.9480, the 0.9500 and the 0.9520 could be traders’ favorites.

Cheers and Safe Trading,
Anil Panchal

Don't miss a thing!

Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All
IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMER
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
FOLLOW US