NZDUSD Technical Analysis: The New Zealand Dollar (NZD/USD) pair is trading in a bearish trend today, as the pair witnessed its highest trading price so far at 0.5658 and its lowest price at 0.5627. Currently, the pair is trading at 0.5631, indicating continuous selling pressure affecting the price movement.
NZDUSD Technical Analysis: Technical Analysis
Technically, the pair is showing trading below the main moving averages, which reinforces the hypothesis of the continuation of the downtrend. The moving averages represent a strong resistance level for prices, which indicates that selling pressure may continue if prices remain below these levels.
In addition, the MACD indicator indicates a negative trend, as the MACD line appears in the negative zone with a negative crossing of the lines, which reflects weakness in the buying momentum and increases the possibility of a continuation of the decline.
Outlook:
Based on the current technical analysis, the pair is expected to continue its downward trend during the rest of today’s sessions unless there are any strong reversal signals. In case trading continues below the major moving averages, we may see further declines in the pair in the short term.
Trading strategies based on Buy/Sell levels
| NZDUSD | In case of buying | in case of selling |
| Entry point | 0.5658 | 0.5624 |
| Target Point 1 (TP1) | First resistance: 0.5671 | First support: 0.5605 |
| Target Point 2 (TP2) | Second resistance: 0.5687 | Second support: 0.5585 |
| Stop Loss (SL) | 0.5624 | 0.5658 |
In light of the technical analysis using moving averages and the MACD indicator, the overall trend for the NZD/USD pair appears to be bearish.
with selling pressure continuing. This trend is expected to remain in effect as long as the pair remains below the moving averages.
and any signs of a potential reversal or continuation of the decline should be monitored.
