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NZD/USD: The Bulls Are Advancing

Apr 3 2019, 07:41 PM (+06) | OlympTrade.com

Global Dairy Trade Price Index in New-Zealand was released yesterday. According to GDT, it grew 0,8%. The New-Zealand dollar is feeling well now. Today we are looking at NZD/USD. We think that the current situation is favorable for bulls. And here are some reasons why…

Technical analysis

On the 1D TF the pair touched the support level 0,6750. Williams %R is moving back to the working zone.

https://tvc-invdn-com.akamaized.net/data/tvc_574592495ec3516dce0edffea45f7e50.png

 

On the working 4H TF several signals appeared simultaneously. The Parabolic SAR reversed and started moving up, the MACD line broke the signal line up (before this there was a divergence between the price and MACD histogram). The pair broke the trend line up. The Williams %R started returning to the working zone. In our opinion, it is possible for the New Zealand dollar to rise. The targets are 0,6829 and 0,6851.  

https://tvc-invdn-com.akamaized.net/data/tvc_d5ac92eae313b2f69d74063d8db0cee2.png

 

Fundamental features

Of course, the most important news for the US dollar is Friday's Nonfarm Payrolls. The forecast is +170K new working places.

 

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