empty
20.03.2023 10:46 AM
NZDUSD, H4 | Potential Bearish Reversal

The NZD/USD chart currently displays a bearish momentum, with price below a major descending trend line and the bearish Ichimoku cloud. The potential price movement could involve a bearish reaction off the 1st resistance, leading to a drop towards the 1st support level.

At 0.6097, the 1st support level is a strong overlap support that lines up with the 38.20% Fibonacci retracement. If price drops below this level, the next support level it could reach is the 2nd support at 0.5897, which is a swing low support that has a 61.80% Fibonacci retracement lining up with it.

Alternatively, if price bounces from the 1st support level, it could rise to the 1st resistance level at 0.6284, which is a pullback resistance. Beyond that, the 2nd resistance level at 0.6476 is a significant multi-swing high resistance.

This image is no longer relevant

Dean Leo,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
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

Recommended Stories

EUR/USD. Analysis and Forecast

At the start of the new week, the EUR/USD pair has gained upward momentum on the back of a weaker US dollar. From a technical standpoint, last week's break below

Irina Yanina 17:58 2025-05-19 UTC+2

Trading Signals for EUR/USD for May 19-21, 2025: sell below 1.1285 (200 EMA - GAP)

Our trading plan for the coming hours is to sell the euro below the top of the downtrend channel, with targets at 1.1189, and to cover the gap left last

Dimitrios Zappas 14:30 2025-05-19 UTC+2

Trading Signals for GOLD for May 19-21, 2025: sell below $3,247 (200 EMA - GAP)

Gold left another gap on May 8 around 3,325 and is likely to break above 3,250. The outlook could be bullish, and we could expect it to cover this

Dimitrios Zappas 14:29 2025-05-19 UTC+2

Forex forecast 19/05/2025: EUR/USD, GBP/USD, USD/JPY, USD/CAD, Gold, Ethereum and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 10:52 2025-05-19 UTC+2

EUR/USD. May 19th. The Euro Remains Under Pressure

On Friday, the EUR/USD pair continued its moderate decline. A close below the 127.2% Fibonacci level at 1.1181 was recorded, but bears failed to build on that success. The current

Samir Klishi 10:45 2025-05-19 UTC+2

Forecast for GBP/USD on May 19, 2025

On the hourly chart, the GBP/USD pair continued to move sideways on Friday, fluctuating between the levels of 1.3205 and 1.3344. Following a rejection from the resistance zone of 1.3344–1.3357

Samir Klishi 10:36 2025-05-19 UTC+2

Technical Analysis of Intraday Price Movement of Gold Commodity Instrument, Monday May 19, 2025.

On the 4-hour chart, the Stochastic Oscillator indicator appears to be crossing BUY, coupled with the price movement moving above the WMA (21) and the appearance of a Bullish

Arief Makmur 07:58 2025-05-19 UTC+2

Technical Analysis of Intraday Price Movement of EUR/JPY Cross Currency Pairs, Monday May 19, 2025.

Although Sellers still dominate EUR/JPY on its 4-hour chart, this is confirmed by its price movement which is moving below the WMA (21) which also has a downward slope

Arief Makmur 07:58 2025-05-19 UTC+2

EUR/USD Forecast for May 19, 2025

On Friday, the euro failed to sustain its upward movement, but it also didn't fall below the daily-scale MACD indicator line—the day closed with a black candlestick, but still above

Laurie Bailey 07:00 2025-05-19 UTC+2

GBP/USD Forecast for May 19, 2025

On Friday, the British pound failed to break above the resistance level 1.3311. Even the "head and shoulders" pattern on the Marlin oscillator couldn't help—the price extended its sideways movement

Laurie Bailey 07:00 2025-05-19 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.