NZDUSD Technical Analysis: The New Zealand Dollar/Dollar (NZD/USD) pair is trading in an upward trend during today’s trading, as the pair recorded its highest price so far at 0.5904 and its lowest price at 0.5873, to currently trade at 0.5894. These movements indicate the continuation of the bullish momentum within a narrow range, with limited variation between the highest and lowest prices so far.
NZDUSD Technical Analysis: Technical Analysis
By examining the technical indicators, we notice that prices are trading above the basic moving averages.
which reflects the continuation of the bullish trend. Trading prices above these moving averages indicates the stability of the bullish momentum in the short and medium term, and enhances the possibility of the continuation of the positive trend.
In addition, the MACD indicator is showing strong positive signals.
as it shows the beginning of an increase in bullish momentum. MACD bars remain above the zero line, indicating that the positive momentum continues in the market, which enhances the chance of continuing the bullish trend in the short term.
Possible future for the pair:
If prices continue to trade above the moving averages, the pair is likely to continue the bullish trend towards the next resistance levels. The pair may face some resistance near the 0.5900 level, and if this level is broken, it may open the way towards testing higher levels.
such as 0.5950 and 0.6000 in the near future.
Trading strategies based on Buy/Sell levels
| NZDUSD | In case of buying | in case of selling |
| Entry point | 0.5904 | 0.5874 |
| Target Point 1 (TP1) | First resistance: 0.5919 | First support: 0.5863 |
| Target Point 2 (TP2) | Second resistance: 0.5940 | Second support: 0.5852 |
| Stop Loss (SL) | 0.5874 | 0.5904 |
Technical analysis suggests that the NZD/USD pair is in an uptrend, supported by the price trading above the major moving averages and positive momentum shown by the MACD. If the pair continues to maintain this upward momentum, further upside towards higher resistance levels is expected. It remains important to monitor key support levels such as 0.5870 and 0.5850 to ensure the continuation of the positive trend.
