At the moment the pair NZD/USD is at the important support level of 0.6585, which is crossed by the moving average line ЕМА50 on the daily chart and ЕМА200 on the hourly and 4-hour charts. Consolidation above or below this level will determine further movement direction in the pair in the short-term. In case of breakdown of this level the pair NZD/USD will go back to downtrend; the rise above the local resistance level will trigger upward correction to resistance levels of 0.6680 (ЕМА144), 0.6740 (upper limit of the downward channel on the daily chart) and 0.6785 (ЕМА200 on the daily chart).
The indicators OsMA and Stochastic do not give clear signals. On the four-hour chart the indicators are reversing in favour of the long positions. On the daily chart they give a sell signal.
It is likely that until tomorrow’s speech by Janet Yellen the pair NZD/USD will remain at the current level of 0.6585.
Pending buy orders should be placed above the local resistance level of 0.6650. Pending orders to sell should be placed below the local support level of 0.6525.
Support levels: 0.6585, 0.6525, 0.6490, 0.6430, 0.6370, 0.6300 and 0.6230.
Resistance levels: 0.6650, 0.6680, 0.6740, 0.6785 and 0.6860.
Sell Stop: 0.6520. Stop-Loss: 0.6590. Take-Profit: 0.6490, 0.6430, 0.6370, 0.6300 and 0.6230.
Buy Stop: 0.6660. Stop-Loss: 0.6580. Take-Profit: 0.6680, 0.6740, 0.6785 and 0.6860.