How To Make Money Today: NZD/USD Daily Market Analysis and Forex Trading Signals 7 April 2022

To assist you to make a good day-trading selection, we’ll cover the newest forex market analysis. Make more money today with our market analysis. You must know how to trade first and have at least a simple understanding of chart patterns. Aside from that, we’ll cover some basic tips and methods that can aid anybody curious in day trading strategies. So let’s start by looking at some charts from today…

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On the H4, with price expected to bounce off the support of the ichimoku cloud, we have a bias that price will rise to our 1st resistance at 0.69835 in line with the swing high resistance from our 1st support at 0.69168 in line with the horizontal overlap support, 78.6% Fibonacci projection. Alternatively, price may break 1st support structure and head for 2nd support at 0.68787  in line with the swing low support.

Areas of consideration:

  • H4 time frame, 1st support at 0.69168
  • H4 time frame, 1st resistance at 0.69835
nzdusd analysis

NZD/USD is still trading at 0.6900, barely above a one-and-a-half-week low.

  • NZD/USD fell for the second day in a row, retreating further from its YTD high.
  • The Ukraine crisis weighed heavily on investors’ minds, undermining the kiwi’s reputation as a riskier currency.
  • The USD bulls were on the defensive and extended support after a little dip in US bond rates.

During the early European session, the NZD/USD pair remained down, trading around 0.6900, only a few pips above the one-and-a-half-week low hit earlier this Thursday.

For the second day in a row, the pair has seen selling, and it has now retreated about 150 pips from its highest level since November 2021, which was around the 0.7035 range earlier this week. Market mood is still shaky, owing to dwindling prospects for a diplomatic settlement to the Ukraine conflict and the risk of more Western penalties against Russia for suspected war crimes. This, in turn, was considered as a major reason that weighed heavily on the kiwi, which was seen to be more risky.

The anti-risk sentiment was bolstered by a little drop in US Treasury bond rates, which helped to keep the recent US dollar rise to a nearly two-year high in check and provided some support for the NZD/USD pair. However, despite the Fed’s hawkish view, which should continue to operate as a tailwind for the greenback, any substantial rise seems difficult. Indeed, the FOMC minutes revealed that policymakers were planning to raise rates by 50 basis points at subsequent sessions.

The minutes also revealed that the central bank’s huge balance sheet will be reduced at a maximum rate of $95 billion per month in order to tighten financial conditions. This strengthens the case for some USD dip-buying, implying that the NZD/USD pair’s attempted rebound is more likely to draw new selling at higher levels. Traders are now anticipating some encouragement from US Weekly Jobless Claims data later in the early North American session.

Aside from that, the USD price dynamics will be influenced by US bond rates, creating some interesting trading possibilities around the NZD/USD pair. Traders will continue to be influenced by developments in the Russia-Ukraine story, which is expected to continue to drive wider market risk sentiment.

Technical levels to watch


Today last price0.6907
Today Daily Change-0.0015
Today Daily Change %-0.22
Today daily open0.6922
Daily SMA200.6904
Daily SMA500.6781
Daily SMA1000.6792
Daily SMA2000.6909
Previous Daily High0.6968
Previous Daily Low0.6896
Previous Weekly High0.6999
Previous Weekly Low0.6876
Previous Monthly High0.6999
Previous Monthly Low0.6728
Daily Fibonacci 38.2%0.6923
Daily Fibonacci 61.8%0.694
Daily Pivot Point S10.6889
Daily Pivot Point S20.6856
Daily Pivot Point S30.6816
Daily Pivot Point R10.6961
Daily Pivot Point R20.7001
Daily Pivot Point R30.7034

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