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NZD/USD: on the eve of the RBNZ meeting – Analytics & Forecasts – 4 October 2022


Oct 4, 2022
NZD/USD: on the eve of the RBNZ meeting


The weakening US dollar gives rise to the NZD/USD movement “to the north”, and in case breakdown of the important short-term resistance level 0.5729 and the local resistance level and today’s high 0.5757, the growth of NZD/USD may continue up to the resistance levels 0.5945, 0.6010. Higher is unlikely, given the global downtrend of NZD/USD.

And today, the volatility in the NZD/USD pair may increase again (at 14:00 GMT), which will be associated with the publication of important macro statistics for the US and New Zealand, as well as at 13:00, 13:15, 15:00, 17: 00 (at this time, speeches by representatives of the management of the Fed and the ECB are scheduled – for more details, see the Major economic events of the week 03.10.2022 – 09.10.2022).

In general, the downward dynamics of NZD/USD prevails, while the pair remains in the zone of a long-term bear market – below the key resistance levels 0.6700, 0.6390.

Support levels: 0.5693, 0.5680, 0.5590, 0.5565, 0.5470

Resistance levels: 0.5729, 0.5757, 0.5900, 0.5945, 0.6010, 0.6065, 0.6280, 0.6390, 0.6480, 0.6700

see details ->https://www.instaforex.com/ru/forex_analysis/323379/?x=PKEZZ

signals -> https://www.mql5.com/en/signals/author/edayprofit

see also “Technical analysis and trading recommendations” -> https://t.me/fxrealtrading


Image and article originally from www.mql5.com. Read the original article here.