NZDUSD Technical Analysis: The pair experienced a strong rally in early April, breaking through several resistance levels. However, it faced clear selling pressure around 0.5850, which then began a strong downward trend. The price is currently in a consolidation correction phase after the decline, moving within a limited range above key support.
NZDUSD Technical Analysis: Today’s High and Low
- Today’s High: 0.56030
- Today’s Low: 0.55499
- Current Price: 0.55808
Technical Analysis
General Trend:
The trend has shifted from bullish to medium-term bearish, with a sharp downward correction wave starting from the 0.5850 high. The price is currently below the moving averages, but is attempting to hold above strong support. Technical Indicators:
- MACD: The negative momentum has begun to diminish, and there is a convergence between the MACD and the signal line, suggesting the beginning of stability and possibly a short rebound.
- Stochastic: The price has exited the oversold zone and risen above the 50 level, indicating a possible continuation of the upward rebound.
Trading Expectations
Positive Scenario (Bullish Rebound):
If the price holds above 0.56106 and succeeds in breaching 0.56288.
Negative Scenario (Continued Downward Trend):
If the price breaks 0.55590 and closes below it, the downward wave will continue towards the 0.55317 and then 0.55122 areas.
Trading strategies based on Buy/Sell levels
| NZDUSD | In case of buying | in case of selling |
| Entry point | 0.56106 | 0.55590 |
| Target Point 1 (TP1) | First resistance: 0.56288 | First support: 0.55317 |
| Target Point 2 (TP2) | Second resistance: 0.56397 | Second support: 0.55122 |
| Stop Loss (SL) | 0.55590 | 0.56106 |
The NZD/USD pair is testing critical support after a strong downtrend, and technical indicators point to a possible upward correction in the short term. However, the overall trend remains bearish as long as the 0.56106 level remains unchanged. It is recommended to follow with caution and capitalize on short-term opportunities while protecting your risk.
