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
6 Feb 2025

NZD/USD Price Analysis: Pair extends rally, approaching the 0.5700 mark

  • NZD/USD advances nearly 0.70% on Wednesday, climbing to 0.5685.
  • The pair maintains its position above the 20-day SMA, reinforcing bullish momentum.
  • Bulls must conquer the 0.5700 area to confirm a recovery.

The NZD/USD pair extended its winning streak on Wednesday, posting a 0.67% gain to reach 0.5685. This upward move follows a breakout above the 20-day Simple Moving Average (SMA), which now acts as a key support level. The bullish sentiment appears to be strengthening, with the pair eyeing further gains toward the 0.5700 psychological threshold.

Technical indicators confirm the ongoing bullish trend. The Relative Strength Index (RSI) has surged to 58, indicating growing buying pressure, while the Moving Average Convergence Divergence (MACD) histogram continues to print rising green bars, reflecting a steady acceleration in momentum.

Looking ahead, NZD/USD faces an initial resistance zone at 0.5700, with a further upside target at 0.5735. On the downside, the 20-day SMA, currently near 0.5635, should act as the first line of support, followed by 0.5600 if a correction takes place. As long as the pair holds above the 20-day SMA, the short-term outlook remains in favor of the bulls.

NZD/USD daily chart

Feb 5, 2025

Gold price refreshes all-time high on risk aversion

Gold price is set to extend its gains, rising more than 0.90% on Wednesday, sponsored by US Dollar weakness and falling US Treasury bond yields.
Read more Previous
Feb 6, 2025

USD/JPY Price Forecast: Turns bearish, breaches Ichimoku Cloud and 200-DMA

The USD/JPY plummeted 175 pips on Wednesday, posting losses of over 1.13% as the pair cleared the Ichimoku Cloud (Kumo).
Read more Next