NZDUSD Technical Analysis : Strong Downtrend

NZDUSD Technical Analysis: The NZD/USD pair continues its strong downtrend, as current price movements reflect significant selling pressure. In this analysis, we will review trading prices, chart analysis, technical indicators, as well as our market forecast.

NZDUSD Technical Analysis : Trading Prices and Chart Analysis

Currently, the NZD/USD pair is trading at 0.6063, after recording its highest price today at 0.6136 and falling to its lowest level at 0.6056. These movements show a strong decline in the pair’s prices, reflecting the continuation of selling pressure in the market.

Technical Indicators

When analyzing the moving average indicators, we notice that prices are trading below these levels, which reinforces the downtrend. In addition, the MACD indicator shows the strength of the downtrend, as the indicator reading indicates the continuation of the negative trend and the presence of strong pressure from the sellers.

Today’s Forecast

Based on these analyses, we expect the NZD/USD pair to continue its downward trend, with the possibility of testing new support levels. If the selling pressures persist, we may see further declines in prices.

NZDUSD Technical Analysis

Trading strategies based on Buy/Sell levels

NZDUSD In case of buying           in case of selling
Entry point 0.6107 0.6043
Target Point 1 (TP1) First resistance: 0.6128 First support: 0.6013
Target Point 2 (TP2) Second resistance: 0.6140 Second support: 0.5993
Stop Loss (SL) 0.6043 0.6107

 

In light of the above, it is advisable to monitor price action at critical levels. The current downtrend offers trading opportunities, but you should pay attention to any signs that may indicate a decline in selling power.

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