NZDUSD Technical Analysis: The NZD/USD pair is witnessing strong negative trading today, as it retreated from a high of 0.6018 to a low of 0.5910, and is currently trading near the 0.5939 level.
NZDUSD Technical Analysis: Technical Analysis
The pair appears to be trading below the main moving averages, which reinforces the bearish trend and reflects a weakness in the bullish momentum. This situation indicates that the market currently favors the bearish trend, as prices are still under strong selling pressure.
The MACD indicator shows strength in the negative direction, as it indicates increasing bearish momentum and continued control by sellers over the market movement. The indicator also shows a bearish crossover, which reinforces the hypothesis of continued downward pressure on prices in the coming hours.
Today’s Forecast:
As trading continues below the moving averages, the pair is expected to continue its decline towards the strong support levels at 0.5900. In case of breaking this area, the pair may test further declines towards 0.5850 and 0.5800.
Trading strategies based on Buy/Sell levels
| NZDUSD | In case of buying | in case of selling |
| Entry point | 0.5951 | 0.5931 |
| Target Point 1 (TP1) | First resistance: 0.5958 | First support: 0.5921 |
| Target Point 2 (TP2) | Second resistance: 0.5969 | Second support: 0.5900 |
| Stop Loss (SL) | 0.5931 | 0.5951 |
Technical analysis suggests that the NZD/USD pair is currently in a bearish trend. Strong selling pressure supported by a negative MACD crossover reinforces the bearish outlook in the short term. It is advisable to follow important support levels such as 0.5900, as they can play a decisive role in determining the pair’s path in the coming hours.
