NZDUSD Technical Analysis: The NZD/USD pair is moving in a clear downtrend today, recording a high of 0.57374 and a low of 0.57088. The pair is currently closing at 0.57129, reflecting the dominance of sellers as pressure continues on lower levels.
NZDUSD Technical Analysis: Technical Analysis
Using Moving Averages
- Prices are trading below the moving averages, confirming the dominance of the downtrend in the medium term.
- Key support is at 0.57036, and if breached, it could open the door to a decline towards 0.56913.
MACD Analysis
- The MACD is showing a clear negative signal, trading below the zero line with the indicator line diverging from the signal line, reflecting continued downward momentum.
- Any convergence between the MACD lines may indicate a prelude to a corrective bounce, but it needs to be confirmed as momentum improves.
NZDUSD Technical Analysis: Trading Expectations
- Prevailing Bearish Scenario:
Entry on a breakout of 0.57036 with a target of 0.56913 and then 0.55901.
Stop loss above 0.57276.
- Corrective Scenario (in case of a price rebound):
Buy on a rebound from 0.57276 towards 0.57374, monitoring the price reaction at these levels.
Stop loss below 0.57036.
Trading strategies based on Buy/Sell levels
| NZDUSD | In case of buying | in case of selling |
| Entry point | 0.57276 | 0.57036 |
| Target Point 1 (TP1) | First resistance: 0.57374 | First support: 0.56913 |
| Target Point 2 (TP2) | Second resistance: 0.57500 | Second support: 0.55901 |
| Stop Loss (SL) | 0.57036 | 0.57276 |
The NZD/USD pair continues its strong downtrend, supported by prices trading below their moving averages and negative MACD signals. Trading the pair from the short side is recommended, focusing on the 0.57036 level as key support, waiting for a breakout to target levels. Any rebound will be limited unless 0.57276 is breached with a strong upside move. Stop-loss and careful capital management are recommended under the current conditions.
