NZDUSD Technical Analysis: The NZD/USD pair saw a significant improvement at the start of Thursday’s trading session, supported by a slight decline in the US Dollar Index following the release of US inflation data that came in line with expectations, easing pressure on commodity currencies.
The pair opened at 0.5701, recording a high of 0.5733, while the lowest level reached today was 0.5696. It is currently trading at 0.5706 in a moderate upward trend.
NZDUSD Technical Analysis: NZD/USD H1 Technical Analysis
General Trend: Upward in the Short Term
The chart indicates that the price has exited a corrective downward trend, having broken the resistance at 0.5660 and is now trading above positive moving averages, indicating the possibility of continued upward momentum.
- MACD: Showing a positive crossover above the zero line with increasing momentum, enhancing buying opportunities.
- Stochastic Oscillator: Moving upward without yet entering overbought areas, indicating room for further upside.
- Moving Averages: Clear bullish crossovers of the short-term moving averages (EMA 20 – EMA 50), confirming a trend change.
Trading Outlook
- Positive Scenario: If the price stabilizes above 0.57234, the rise is likely to extend towards 0.57534 and then 0.57741.
- Negative Scenario: Any break of the 0.56667 level could re-introduce negative pressure towards the 0.56446 area, where demand is concentrated.
Trading strategies based on Buy/Sell levels
| NZDUSD | In case of buying | in case of selling |
| Entry point | 0.57234 | 0.56667 |
| Target Point 1 (TP1) | First resistance: 0.57534 | First support: 0.56446 |
| Target Point 2 (TP2) | Second resistance: 0.57741 | Second support: 0.56347 |
| Stop Loss (SL) | 0.56667 | 0.57234 |
The pair is showing clear positive signs of recovery from the recent correction bottom, supported by favorable technical and fundamental factors. If the current momentum continues, we may witness additional upward movements, especially if the pair stabilizes above the pivotal resistance at 0.5724. Traders are advised to closely monitor price breakouts and adjust their risk management strategies.
