• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

ForexSchoolOnline.com

Learn to Trade Forex Online

  • Compare Brokers
    • Broker Type
      • Paypal Brokers
      • Swap-Free Brokers
      • Low Spread Brokers
      • ECN / STP Brokers
      • Market Maker Brokers
      • Non Dealing Desk Brokers
      • Low Minimum Deposit Brokers
    • Country
      • Brokers for Australia
      • Brokers for South Africa
      • Brokers for the UK
      • Brokers for the US
      • Brokers for Nigeria
    • Regulation
      • FCA Regulated Brokers
      • ASIC Regulated Brokers
      • FSCA Regulated Brokers
      • CFTC Regulated Brokers
    • Platform
      • MT4 Brokers
      • MT5 Forex Brokers
    • Strategies
      • Hedging Forex Brokers
      • Scalping Forex Brokers
      • Carry Trade Forex Brokers
      • Brokers for Indicators and EA’s
  • Start Here
    • Start Trading Guide
    • Beginner Trading Lessons
  • Free Forex Course
    • Public Login
    • Register
    • Password recovery
  • Lessons
    • Strategies
    • Videos
    • MT4 Guides
    • Money Management
  • Trade Setups
  • Tools
    • Correct Free Demo Charts
    • Forex Journal Download
    • Position Size Calculator
    • FULL List of Tools
    • Forex Demo Accounts
  • Price Action Guide
  • Free Course

NZDUSD Resists Bear Advances to Rebound Upwards

Johnathon Fox
09/15/2021 | UPDATED ON: 09/15/2021

Market Analysis – NZDUSD Resists the Plunge From the Bears to Bounce Upwards

NZDUSD resists bear advances to drown the market and has bounced back upwards via the 0.70900 demand level. Sellers had stepped in to cut short the bullish move in the market. Price rally started on the 19th of August 2021 after bulls had employed a morning star candlestick pattern to change the market direction upwards. 0.68080, which is the level the market reversed, was reacting to the downward breakout of price from consolidation.


Significant NZDUSD Levels

Supply Levels: 0.71300, 0.72260, 0.73000
Demand Levels: 0.70900, 0.69150, 0.68080
NZDUSD resists bear The price consolidation that occurred between the 0.70900 and the 0.69150 key levels is the lower part of a bigger consolidation which is from 0.73000 to 0.69150. The upper part of the consolidation is from the 0.73000 key level to the 0.71300 key level. The gap between 0.71300 to 0.70900 is like a transition zone to move from the upper part to the lower part of the general consolidation.

NZDUSD fell from the upper half and eased through the transition zone to drop to the lower half on the 16th of June 2021. After about 45 days of ranging, sellers tried to force the market downward, which triggered the buyers to retaliate with a 5.38% price increase, which thrust the market past the lower to the higher consolidation zone. When bulls ran out of steam, sellers tried to plunge the price once more, but price resists the fall with the help of the transition zone.

NZDUSD resists bear Market Anticipation

The market can be seen ranging through the transition zone on the 4-hour chart. However, the impulse lies with the buyers as can be seen that they've broken upward once on the 10th of September. The RSI (Relative Strength Index) oscillates around the half-line of the RSI chart. The Stochastic Oscillator has its line plunge into the selling half with several crosses. Bulls must act quickly to lift the market out of the transition zone before sellers retake control.

The market is expected to lift from the transition zone to reach first for 0.72260 before further reactions.

Note: Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Recommended Broker

  • Broker
  • Min Deposit
  • Benefits
  • Score
  • Visit Broker

$200

T&Cs Apply
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
5
Trade Now FreeBets Reviews
Reviews

About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

View all posts by Johnathon Fox →
Previous Post: « USD/CHF Needs A Bullish Spark!
Next Post: GBPJPY Upward Momentum Is Being Repressed at 152.580 »

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Forex School Online

High Probability Price Action Trading

How to make, manage and take profit from trades in the markets

Start Learning (It's Free!)

Turn Your Trades into Winners!

The Price action course is the in-depth advanced training on assessing, making and managing high probability price action trades.

Sign up for Free!

Recommended Broker

  • Broker
  • Min Deposit
  • Benefits
  • Score
  • Visit Broker

$200

T&Cs Apply
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
5
Trade Now FreeBets Reviews
Reviews

Footer

Get Our FREE Course, Bonus Strategies & Indicators!
X
Join Us Now! Your capital is at risk.
X

CORNERSTONE LESSONS

Forex Trading for Beginners

Price Action Trading

How to Trade Forex

Technical Analysis

Forex Charts

Forex Trading Strategies

Money Management 

Compare Brokers

Best Forex Brokers

Forex Demo Accounts

Best Forex Trading Platforms

Forex Apps

Swap Fee Accounts

MT4 Brokers

CATEGORIES

Forex Videos

Trading Lessons

Weekly Trade Ideas

Start Here Guide

ForexSchoolOnline.com helps individual traders learn how to trade the Forex market

We Introduce people to the world of currency trading. and provide educational content to help them learn how to become profitable traders. we're also a community of traders that support each other on our daily trading journey

Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Finixio Ltd, Tower 42, 25 Old Broad Street, London EC2N 1HN | [email protected]

Copyright © Forex School Online - Finixio Ltd Company no. 11705811 - Sitemap  - Privacy Policy - Disclaimers & Terms of Use - CONTACT US