Refer a friend

The NZDUSD price continues to move higher as USD weakness remains. Could the price continue higher or are we approaching key resistance?

Watch the video to learn more…

NZDUSD Analysis

The NZDUSD price continues to move higher in line with the strength meter this week. The USD remains weak after the Federal Reserve Chairman highlighted the Fed will slow the pace of rate hikes in the December meeting. However, although the market is seeing  this as a dovish move it is actually just less hawkish as they are still tightening monetary policy to fight the inflation rate. They have stressed that if inflation fails to fall they will act aggressively again which could cause the USD to strengthen significantly. 


The price of NZDUSD continues its upward trend heading towards the major resistance level of 0.6450. In the week ahead analysis video we highlighted the level of 0.6150 as an area of interest for the price to move higher from. Price has rallied over 250 pips from this level in the direction of the major resistance. On the 4hr chart we can see that the price could form a similar pattern again and retest the previous highs at 0.6280. If we see a retest with bullish price action we could look for short term opportunities into the 0.6450 level. 

Did you see our S&P500 Analysis? You can see it here.

Enjoy low spreads and quick trade executions with a live account. Our highly committed customer support team will assist you from your quick account setup to any future concerns. Start trading with Blueberry Markets today.

About The Author

Join us on Telegram
and get real-time
alerts on
Indices, Gold, Crypto
and Share CFDs

Join now for free
telegram cta
bbjam graphic

Sign up to
Blueberry Jam

Back up your trade positions with insights
and how-to-guides, straight to your
inbox every week

Thank you. You have successfully subscribed to Blueberry Jam!