NZDUSD Technical Analysis: The New Zealand Dollar/Dollar (NZD/USD) pair is trading in a bearish trend during today’s session, as the pair shows slight declines within a limited trading range. The pair recorded its highest price today at 0.5886 and the lowest price at 0.5858, and is currently trading at 0.5870, reflecting the continuation of negative pressure but within a narrow range.
NZDUSD Technical Analysis: Price Analysis
The pair is trading below the moving averages, which reinforces the idea of a bearish trend in the short term. Although prices are trading below these averages, there are signs of weak momentum in the current downtrend, which may indicate volatility or the possibility of a correction in prices in the short term.
Technical Analysis Using Technical Indicators
- Moving Averages: Continued trading below the moving averages indicates weak buying momentum and supports the negative outlook for the pair, which favors bearish scenarios at the moment.
- MACD Indicator: The MACD indicator is showing negative signals, as it continues its negative trend, reflecting the presence of selling pressure on the pair. However, the appearance of some weakness in the trend indicates that the downward momentum may decline, and thus we may see short-term volatility before resuming the downtrend.
Trading Forecast for Today
The pair is expected to remain in a downtrend in the short-term, with the possibility of testing the support levels at 0.5858. If the selling pressure continues, the pair may continue its decline towards lower support levels. However, if the weakness in the downward momentum continues, we may see narrow volatility or a temporary correction.
Trading strategies based on Buy/Sell levels
| NZDUSD | In case of buying | in case of selling |
| Entry point | 0.5886 | 0.5863 |
| Target Point 1 (TP1) | First resistance: 0.5895 | First support: 0.5849 |
| Target Point 2 (TP2) | Second resistance: 0.5910 | Second support: 0.5820 |
| Stop Loss (SL) | 0.5863 | 0.5886 |
The NZD/USD pair remains in a bearish trend according to the current technical analysis, with trading below the moving averages and negative signals from the MACD. Despite some weakness in the trend, the overall outlook remains negative in the short-term.
with a possible pullback towards lower support levels if selling pressure persists.
