Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
28 Nov 2022

NZD/USD Price Analysis: Sellers attack fortnight-old support above 0.6200

  • NZD/USD extends Friday’s pullback from three-month high, begins the week with a downside gap.
  • Bearish MACD signals favor downside towards two-week-long horizontal support but further downside appears limited.
  • 100-SMA, ascending trend line from early November offer strong challenge to sellers.
  • Bulls need validation from 0.6270 to retake control.

NZD/USD holds lower ground near 0.6220, after beginning the week’s trading with a downside gap, as bears jostle with a short-term key support line during early Monday in Asia. In doing so, the Kiwi pair extend Friday’s pullback from the highest levels since early August.

That said, bearish MACD signals and failure to refresh the monthly-day high keep the NZD/USD sellers hopeful of breaking the 0.6220 immediate support.

However, multiple levels marked since November 15 could challenge the Kiwi pair’s further downside near 0.6200.

In a case where the quote breaks the 0.6200 key support, the odds of witnessing a slump toward the 100-SMA level surrounding 0.6080 can’t be ruled out. Even so, an upward-sloping support line from November 04, close to 0.6075 by the press time, could probe the NZD/USD bears afterward.

Meanwhile, recovery remains elusive unless the quote crosses a downward-sloping resistance line from November 24, near 0.6270 at the latest.

Following that, the monthly high of 0.6290 and the 0.6300 threshold may act as the upside filters before directing the bulls towards the early August highs near 0.6355 and the August month’s peak surrounding 0.6470.

NZD/USD: Daily chart

Trend: Further downside expected

 

Nov 28, 2022

AUD/USD slides towards 0.6700 on China Covid concerns, Aussie Retail Sales eyed

AUD/USD witnesses hardships in stretching the weekly gains beyond 0.6750 as it begins the key week on a back foot around 0.6720. Coronavirus fears in
Read more Previous
Nov 28, 2022

GBP/USD seeks support around 1.2060 amid quiet market mood, US ADP payrolls eyed

The GBP/USD pair has sensed a marginal selling pressure at open and has dropped near the immediate support of 1.2060 in the early Asian session. The p
Read more Next