NZDUSD Technical Analysis: The NZD/USD pair continues to trade in a bearish trend at the beginning of this week, indicating the continued strength of the dollar against the New Zealand dollar. Currently, the pair is trading at 0.6141, with a daily high of 0.6170 and a low of 0.6129. These figures indicate a continuation of the decline in prices.
NZDUSD Technical Analysis of technical indicators:
By analyzing the chart, we find that the pair is trading below the moving averages, which reinforces the bearish trend. The MACD indicator also shows strength in the decline, despite a slight weakness in the momentum. This may indicate a possible rebound in the near future.
Possible expectations:
During the day, the selling pressure on the pair is expected to continue. If the decline continues, we may see lower levels reaching 0.6120. In case of any bounce, the key resistance levels at 0.6170 will be under watch.
Trading strategies based on Buy/Sell levels
| NZDUSD | In case of buying | in case of selling |
| Entry point | 0.6187 | 0.6116 |
| Target Point 1 (TP1) | First resistance: 0.6213 | First support: 0.6099 |
| Target Point 2 (TP2) | Second resistance: 0.6229 | Second support: 0.6059 |
| Stop Loss (SL) | 0.6116 | 0.6187 |
Based on the current technical analysis, traders are advised to remain cautious and focus on technical indicators to identify suitable trading opportunities. The overall trend is still bearish, which requires thoughtful trading strategies and risk consideration.
