NZDUSD Technical Analysis: Through technical analysis, we notice that the pair is currently trading above the moving averages, which reflects the continued support for the upward trend. Trading above the moving averages is an indication that the market is currently favoring the upward trend. The stability of the price above these averages means that there is strength in the buying momentum, which supports the continuation of the positive movement in the short term.
NZDUSD Technical Analysis: Technical Analysis
- MACD Indicator: The MACD indicator is showing positive signs, as it begins to cross upward with increasing upward momentum. This signal enhances the chances of the pair continuing its upward movement in the short term, reflecting the continuation of the strength in the current trend.
Future Outlook:
If the pair continues to trade above the 0.6000 level, the upward trend is expected to continue towards testing the resistance levels at 0.6030 and 0.6060. If the pair succeeds in breaking this resistance, the upward trend may extend towards higher levels, such as 0.6100. On the other hand, if the pair declines below the 0.5960 level, it may face bearish pressure that may push it to test support levels at 0.5940 and 0.5900.
Trading strategies based on Buy/Sell levels
| NZDUSD | In case of buying | in case of selling |
| Entry point | 0.6011 | 0.5990 |
| Target Point 1 (TP1) | First resistance: 0.6020 | First support: 0.5984 |
| Target Point 2 (TP2) | Second resistance: 0.6035 | Second support: 0.5974 |
| Stop Loss (SL) | 0.5990 | 0.6011 |
Technical analysis suggests that the NZD/USD pair is in a strong short-term uptrend, with confirmations from prices trading above moving averages and technical indicators such as the MACD. However, key support and resistance levels should be monitored over the coming sessions, as any pullback below 0.5960 could reflect a reversal in the trend.
