NZD New Zealand Dollar - China Announces Policy Shift, New Zealand Dollar Benefits and Stabilizes Again

Regarding the movement of the New Zealand Dollar against the U.S. Dollar, as seen in the technical charts, the two key lows for the New Zealand Dollar this year are at 0.5850 in April and 0.5849 in August. Therefore, it is important to note that if the New Zealand Dollar clearly breaks below this range in the short term, it would indicate a more definite downward trend attempting to break the bottom. The next level of support is expected around 0.58, down to last October's low of 0.5771, with stronger support expected at the 0.56 level. However, both the RSI and stochastic indicators are showing initial signs of rebounding from oversold territory, suggesting a higher probability that the New Zealand Dollar could stabilize again. Looking upwards, attention should first be paid to the 25-day moving average at the 0.59 level. When considering the golden ratio, rebound levels of 38.2% and 50% could reach 0.6015 and 0.6085, with the 61.8% level at 0.6155.

Forecast range:
Resistance: 0.5900 - 0.6015 - 0.6085 - 0.6155
Support: 0.5800 - 0.5771 - 0.5600

Any questions? contact our professional analysis team