On the time of publication of this text, the NZD/USD pair is buying and selling close to the 0.5990 mark. Breakdown of at this time’s native low of 0.5976 can be a sign to open new quick positions. On this case, NZD/USD will head deeper into the descending channel on the weekly chart, the decrease border of which is near 0.5670.
In another situation, the breakout of resistance ranges 0.6065, 0.6087 will develop into a sign for the resumption of an upward correction and lengthy positions with the primary goal at resistance stage 0.6200 (for extra particulars see https://www.instaforex.com/en/forex_analysis/321681/?x=PKEZZ). Normally, the downward dynamics of NZD/USD prevails.
In the present day, the volatility within the NZD/USD pair might enhance once more at 12:30 and 22:45 (GMT), which can be related to the publication of vital macro statistics for the US and New Zealand (for extra particulars, see the Main financial occasions of the week 09/12/2022 – 09/18/2022).
Assist ranges: 0.5976, 0.5900, 0.5850, 0.5670
Resistance ranges: 0.6065, 0.6087, 0.6170, 0.6200, 0.6390, 0.6480, 0.6560, 0.6745
*) see additionally -> “Technical evaluation and buying and selling suggestions” -> Telegram
**) sign -> Insta79