NZDUSD Technical Analysis: The New Zealand Dollar against the US Dollar (NZD/USD) pair is trading today at the beginning of an upward trend, as the pair recorded a high so far at 0.5997 and a low of 0.5961, with current trading at 0.5985. This performance reflects the market’s response to the latest US economic data.
NZDUSD Technical Analysis: Price Analysis
The pair rose after the release of the US Non-Farm Employment Change data, which contradicted expectations, which led to a decline in the dollar against the New Zealand dollar. The pair’s trading above the moving averages indicates the presence of strong support that reinforces the upward trend.
Technical Analysis
The MACD indicator is showing signs of the end of the negative trend and the beginning of the emergence of a positive trend, indicating the possibility of continuing the upward momentum. These shifts in the indicator support expectations of further price increases.
Trading Outlook
Based on technical and fundamental analysis, the pair is expected to continue moving upwards, especially if the pressure on the dollar continues. If negative economic data continues, we may see further strength in the New Zealand dollar.
Trading strategies based on Buy/Sell levels
| NZDUSD | In case of buying | in case of selling |
| Entry point | 0.5995 | 0.5973 |
| Target Point 1 (TP1) | First resistance: 0.6008 | First support: 0.5665 |
| Target Point 2 (TP2) | Second resistance: 0.6022 | Second support: 0.5955 |
| Stop Loss (SL) | 0.5973 | 0.5995 |
The NZD/USD pair is showing positive signs with trading above the moving averages and the MACD indicator ending its negative trend. Investors are advised to follow the upcoming economic developments, as they can significantly affect the market movement.
