NZDUSD Technical Analysis: Bearish Trend

NZDUSD Technical Analysis: The NZDUSD pair is trading in a bearish trend today, but there are some signs of weakness in this trend. The pair recorded a high of 0.6080 and a low of 0.6037, and is currently trading at 0.6076. The spreads reflect the waning strength of the downside, as the current rise indicates some stability in the market.

NZDUSD Technical Analysis Technical Analysis:

Looking at the technical indicators, we find that prices are still trading below the moving averages, which reinforces the bearish outlook. However, the MACD indicator is showing a negative trend with a decline in the strength of selling demand, which indicates a possible upward correction in the near future.

Trading Expectations:

We expect the pair to continue trading within the bearish trend, with the possibility of testing the support levels at 0.6037. In case of any rebound, the pair may reach the resistance levels at 0.6090.

NZDUSD Technical Analysis

Trading strategies based on Buy/Sell levels

NZDUSD In case of buying           in case of selling
Entry point 0.6092 0.6066
Target Point 1 (TP1) First resistance: 0.6103 First support: 0.6047
Target Point 2 (TP2) Second resistance: 0.6118 Second support: 0.6020
Stop Loss (SL) 0.6066 0.6092

 

The outlook for the NZD/USD pair remains bearish, despite signs of weakness in the trend. Traders should closely monitor technical indicators and be prepared to react to any changes in the market, especially as selling pressure eases.

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