NZDUSD Technical Analysis: Global financial markets have witnessed significant volatility recently, influenced by accelerating economic and political developments. In this context, the effects of the new tariffs imposed by the United States on some countries have become more prominent, leading to a decline in Arab and global stock indices. Additionally, Italy’s services sector experienced a slowdown in growth during March, raising concerns about the economic recovery in the Eurozone.
The New Zealand Dollar pair is currently trading at $0.58188, with technical indicators pointing to a continuation of the upward trend. The price is trading above the major moving averages, enhancing the chances of continuing the upward momentum in the near term. The MACD indicator is also providing signals that support the current purchasing power, increasing the likelihood of the pair continuing its upward trend.
NZDUSD Technical Analysis: Technical Insight:
- The price is trading above all moving averages, confirming the upward trend.
- Buying momentum is strong according to the MACD indicator, but the Stochastic indicator shows the price has entered the overbought zone, which may indicate a potential correction soon.
- The 0.5825-0.5864 level represents key resistance, and we may see some corrective pullbacks from this area.
Trading strategies based on Buy/Sell levels
| NZDUSD | In case of buying | in case of selling |
| Entry point | 0.58264 | 0.58076 |
| Target Point 1 (TP1) | First resistance: 0.58525 | First support: 0.57827 |
| Target Point 2 (TP2) | Second resistance: 0.58555 | Second support: 0.57800 |
| Stop Loss (SL) | 0.58076 | 0.58264 |
The NZDUSD continues its steady upward trend, supported by strong breaks of key resistance levels and clear buying momentum. However, overbought conditions according to the Stochastic indicator may push the price into short-term corrections before resuming the upward trend. The 0.5825-0.5864 levels remain key resistance to monitor, as a break above them could propel the pair towards further gains, while the support at 0.5782-0.5730 represents a potential rebound zone for the continuation of the uptrend.
Therefore, the optimal strategy currently is to exploit pullbacks as buying opportunities while confirming the rebound signals, while cautioning against any strong break above 0.5730, which could alter the positive outlook. Risk management and confirmation of technical signals remain essential amid this strong movement.
