NZDUSD Technical Analysis pair: Weak upward trend

American session: 7/1/2024

Introduction and overview

This report provides a technical analysis of the New Zealand dollar against the US dollar, focusing on trading strategies based on resistance and support levels. The pair is currently trading at the level of $0.6085. Prices are trading below most of the moving average crossings, indicating a weak uptrend. The MACD indicator marks the end of the positive trend, which enhances the negative possibilities for the pair, amid anticipation of the release of American economic data, including the ISM Manufacturing Purchasing Managers’ Index, which affects the pair’s trading.

NZDUSD Technical Analysis

Trading strategies based on Buy/Sell levels

USDJPY In case of buying in case of selling
trend Buy sell
Entry point 0.6101 0.6081
Target Point 1 (TP1) First resistance: 0.6109 First support: 0.6068
Target Point 2 (TP2) Second resistance: 0.6118 Second support: 0.6047
Stop Loss (SL) 0.6081 0.6101



These strategies depend on the price’s location relative to support and resistance levels and suggest the best ways to profit from price movements based on support and resistance indicators. Traders should carefully monitor these levels to identify appropriate opportunities to enter and exit the market, while maintaining appropriate risk management strategies to protect their investments


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