NZDUSD Technical Analysis : Bearish Trading

NZDUSD Technical Analysis: The NZDUSD pair is trading in a bearish trend, currently recording a price of 0.6283. The pair witnessed a decline from its high of the day at 0.6311 to its low of 0.6274, reflecting the continuation of selling pressure.

NZDUSD Technical Analysis: Technical Analysis

  • Moving Average Indicators: Prices are trading below the moving averages, indicating the strength of the current downtrend. This signal enhances the possibility of a continuation of the decline.
  • MACD Indicator: The MACD indicator shows strength in the negative direction, supported by increased selling demand, reflecting the market’s preference for a continuation of the decline.

Today’s Trading Outlook

The pair is expected to continue its bearish trend in the near term, in light of the continuation of selling pressure. It is recommended to monitor the support levels at 0.6270 and the resistance at 0.6300.

NZDUSD Technical Analysis

Trading strategies based on Buy/Sell levels

NZDUSD In case of buying           in case of selling
Entry point 0.6319 0.6265
Target Point 1 (TP1) First resistance: 0.6338 First support: 0.6238
Target Point 2 (TP2) Second resistance: 0.6349 Second support: 0.6209
Stop Loss (SL) 0.6265 0.6319

 

The NZD/USD pair continues its downward trend, with strong signals supporting this trend. Technical indicators and market news should be monitored to ensure informed trading decisions.

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