NZDUSD Technical Analysis: The New Zealand Dollar pair is trading in a bearish trend today, as its current price reached 0.6082. The pair recorded its highest price today at 0.6059 and its lowest price at 0.6053.
NZDUSD Technical Analysis Fundamental Analysis:
The pair was negatively affected by the issuance of positive US economic data, which strengthened the dollar and pushed the pair down. However, a clear weakness is observed in the downward trend.
Technical Analysis:
When looking at the moving average indicators, we find that prices are trading below these indicators, with signs of weakness in some of them turning in the opposite direction. The MACD indicator also shows a noticeable decline in the negative direction, which indicates a decrease in selling power and enhances the chances of moving towards a positive direction in the future.
Today’s trading outlook:
Based on current data, the NZD/USD pair is expected to continue its volatility, with some recovery possible if the selling pressure continues to weaken.
Trading strategies based on Buy/Sell levels
| NZDUSD | In case of buying | in case of selling |
| Entry point | 0.6120 | 0.6065 |
| Target Point 1 (TP1) | First resistance: 0.6143 | First support: 0.6035 |
| Target Point 2 (TP2) | Second resistance: 0.6155 | Second support: 0.3010 |
| Stop Loss (SL) | 0.6065 | 0.6120 |
Analyses indicate that the pair’s downward trend is still intact, but there are signs of a weakening trend, which opens the way for potential positive opportunities. It is advisable to monitor upcoming economic developments to assess their impact on the pair’s movement.
