NZDUSD Technical Analysis: The NZD/USD pair is trading in a downtrend today, recording a high of 0.5879 and a low of 0.5836. Currently, the pair is trading at 0.5847. Technical analysis shows that the general trend of the pair is still down, with signs of the beginning of strength in the negative direction after a period of weakness.
NZDUSD Technical Analysis: Technical Analysis
- Moving Averages: Trading the pair below the main moving averages indicates continued downward pressure on the pair. Trading below these averages reflects weakness in the upward momentum and reinforces expectations of a continuation of the downtrend in the near term.
- MACD Indicator: The MACD indicator shows a negative trend, with the beginning of strength in the trend after a period of weakness. Although the indicator was indicating weakness in the negative momentum earlier, it has now started to show strength in the downside, which increases the chances of continuing to pressure the pair towards lower levels.
Future Outlook:
If the pair continues to trade below the moving averages, the downside trend will remain dominant in the near term. The pair may continue to decline towards lower support levels such as 0.5830 and 0.5800. With the beginning of strength in the negative trend shown by the MACD indicator, the pressure on the pair may continue to the downside if this momentum continues.
Trading strategies based on Buy/Sell levels
| NZDUSD | In case of buying | in case of selling |
| Entry point | 0.5870 | 0.5831 |
| Target Point 1 (TP1) | First resistance: 0.5886 | First support: 0.5805 |
| Target Point 2 (TP2) | Second resistance: 0.5899 | Second support: 0.5780 |
| Stop Loss (SL) | 0.5831 | 0.5870 |
Based on the current technical analysis, the downtrend remains dominant in the NZD/USD pair, confirmed by the price trading below the moving averages and the appearance of a negative trend strength via the MACD indicator. If the selling pressure continues.
the pair is likely to continue to decline towards lower support levels in the near term.
