NZDUSD Technical analysis Now : The New Zealand Dollar/US Dollar (NZD/USD) pair witnessed an upward rebound from 0.5910 levels during yesterday’s sessions, supported by a slight decline in the dollar’s strength amid anticipation of tomorrow’s US employment data.
The pair is attempting to break the 0.5949 resistance barrier, which constitutes the entry point for a short-term upward corrective wave.
NZDUSD Technical analysis Now: Technical Overview
- Short-term trend: Upwardly biased
- The price has returned to trading above 0.5930, currently testing 0.5949
- Holding above 0.5950 will give buyers greater control throughout the day
Technical Indicators Analysis:
- Moving Averages (EMA):
- The price is attempting to hold above the 50-day average
- The 100- and 200-day averages are still sloping down, imposing gradual resistance
- MACD:
- In a positive state
- Shows the beginning of a bullish crossover with increasing momentum
- Stochastic:
- Moving above 65
- Indicates the possibility of continued upward movement provided 0.5930 is not breached
NZDUSD Technical analysis Now : Expected Scenarios:
Bullish Scenario (likely if 0.5949 is broken):
- Rise towards:
- 5960
- 5980
Bearish Scenario (Alternative):
- In the event of a failure to break 0.5950 and a decline below 0.5930, the pair returns to:
- 5915
- 5900
Trading strategies based on Buy/Sell levels
| NZDUSD | In case of buying | in case of selling |
| Entry point | 0.59499 | 0.59308 |
| Target Point 1 (TP1) | First resistance: 0.59806 | First support: 0.59000 |
| Target Point 2 (TP2) | Second resistance: 0.60106 | Second support: 0.58700 |
| Stop Loss (SL) | 0.59308 | 0.59499 |
The NZDUSD pair is showing the beginning of a technical improvement on the short-term horizon, but a break of the 0.5949 resistance level is the prerequisite for confirming the uptrend.
The overall trend remains cautious, awaiting US employment data, which could push the market in either direction.
Impactful Economic Data This Week:
May 2: US Unemployment Claims
May 3: Nonfarm Payrolls (NFP) Report
US Unemployment Rate
