NZDUSD bias bullish despite declining trade surplus
Technical Analysis Summary NZD/USD: Buy
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Buy | |
| Donchian Channel | Buy | |
| MA(200) | Sell | |
| Fractals | Buy | |
| Parabolic SAR | Buy |
Chart Analysis
On 1-hour timeframe NZDUSD: H1 is testing the 200-period moving average MA(200) which has leveled off. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 0.6449. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 0.6418. After placing the order, the stop loss is to be moved to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of -
New Zealand’s trade surplus declined in May. Will the NZDUSD advance halt?
New Zealand’s trade surplus declined in May: the trade surplus declined to NZ$1.25 billion from 1.34 billion in April, when a decline to 1.28 billion was expected. This is bearish for NZDUSD but the pair is biased upward.