Solid News

NZDUSD, Fibonacci Levels Analysis

12/30/2022 1:56 PM


On the 4-hour chart, the price is correcting upwards against the downtrend and is currently trying to consolidate above 0.6332 (38.2% retracement) to continue moving towards 0.6360 (50.0% retracement), 0.6390 (61.8% retracement). The key "bearish" level is 0.6298 (correction 23.6%) below the middle line of Bollinger bands, the breakdown of which will allow the instrument to return to the point of the initial growth of 0.6240 (correction 0.0%).

The short-term upward trend continues, which is indicated by an increase in the MACD histogram in the positive zone. However, Stochastic is pointing downwards, not excluding a correction, but its potential seems limited.


On the daily chart, the price reached 0.6245 (correction 23.6%), from which it resumed growth as part of a medium-term uptrend. Currently, the quotes are testing the middle line of Bollinger Bands at 0.6350, consolidation above which will increase the probability of the price returning to the 0.6460 area (correction 0.0%) and further growth up to 0.6800 (Fibonacci extension 61.8%). The key "bearish" level is 0.6245. After the consolidation below it, the downward dynamics may develop to 0.6115 (correction 38.2%).

At the moment, Bollinger bands and Stochastic are directed upwards. The MACD histogram is stable in the positive zone.

Soon, further price growth seems more likely. Its targets may be 0.6390 (correction 61.8%, H4) and 0.6460 (correction 0.0%, D1). If the quotes consolidate below 0.6298 (correction 23.6%, H4), the trading instrument is likely to move to the area of 0.6240 (correction 0.0%, H4 and 23.6%, D1) and 0.6115 (correction 38.2%, D1).

Resistance levels: 0.6350, 0.6390, 0.6460. | Support levels: 0.6298, 0.6240, 0.6115.

Find Us
Registered Address : Bonovo Road – Fomboni Island of Mohéli – Comoros Union
Sofia, PO Box 1407,14 Flip Kutev Str. Floor 2, Industrial area Hladilnika, Bulgaria
Call Us
+35 924 928 392

Disclaimer 1: Solid ECN Securities LLC and it affiliates does not accept clients from Turkey, United States, and Europe.
Disclaimer 2: The information provided on this site is not intended for residents of any country or jurisdiction where its distribution or use would violate local laws or regulations.
Risk Warnings
Solid ECN Securities LLC offers trading on Foreign Exchange (‘Forex’ or ‘FX’) and Contracts for Difference (‘CFDs’), which are complex financial products that are traded on margin. They carry a high level of risk since leverage can work both to your advantage and disadvantage. As a result, these products may not be suitable for all investors, as loss of all invested capital may occur. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and consider your investment objectives and level of experience. Seek independent advice, if necessary.
Solid ECN Securities LLC does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. Solid ECN Securities LLC is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
By using you agree to use our cookies to enhance your experience.
Solid ECN Securities LLC is authorized and regulated by the Comoros Union with reference number HY00623411.
Copyright All Right Reserved 2023