NZDUSD Technical Analysis: The New Zealand Dollar pair is trading today at the beginning of a bearish trend, as the pair recorded the highest trading price so far at 0.5647 and the lowest price at 0.5624, with the current price reaching 0.5627. This movement indicates the beginning of a bearish correction that may accelerate if the selling pressure continues, which reflects the formation of a suitable environment to continue the bearish trend in the short term.
NZDUSD Technical Analysis: Price Analysis
Prices are currently trading below the moving averages, which reflects a weakness in the upward momentum and supports the idea of continuing the downward trend. The price remaining below these major moving averages reinforces the negative view of the market and indicates the preference of sellers at the present time, which enhances the chances of continuing the downward trend in the near future.
Technical Analysis
Moving Averages: Moving average indicators show that prices are trading below the major moving averages, which reflects the preference for the downward trend. Selling pressure is increasing as trading continues below these moving averages, which means that the price action may continue in a downward direction if there is no sudden change in momentum.
MACD Analysis: The MACD indicator indicates the beginning of a downtrend.
as the gap between the lines is increasing, reflecting a shift in momentum from positive to negative. This indicator shows negative signals that sellers may control the market in the near term, and this view is reinforced by the negative crossover of the lines, which indicates the beginning of a downtrend.
Trading Expectations:
The downtrend is expected to remain dominant in the short term.
especially if the pair continues to trade below the moving averages. The pair may face a nearby support level at 0.5610, and if broken, the decline may extend to lower levels such as 0.5580. In the event of an upward breakout of the resistance level at 0.5650, the market may witness a temporary upward correction.
Trading strategies based on Buy/Sell levels
| NZDUSD | In case of buying | in case of selling |
| Entry point | 0.5647 | 0.5616 |
| Target Point 1 (TP1) | First resistance: 0.5659 | First support: 0.5598 |
| Target Point 2 (TP2) | Second resistance: 0.5670 | Second support: 0.5570 |
| Stop Loss (SL) | 0.5616 | 0.5647 |
The market is showing negative signals supporting the downtrend, as prices are trading below the moving averages.
and the MACD indicator confirms the beginning of the downtrend. The pair is likely to continue the selling pressure in the short term.
while monitoring market developments in the near future to determine whether this trend will continue or change.
