NZDUSD Technical Analysis: The NZDUSD pair is showing a bearish trend at the beginning of the day, as it is currently trading at 0.5985. The pair has recorded its highest price so far at 0.5989 and its lowest price at 0.5957, reflecting the continuation of selling pressure despite signs of weakness in the trend.
NZDUSD Technical Analysis: Technical Analysis
By analyzing the chart, we notice that prices are trading above the moving averages indicators, indicating relative strength that enhances the chances of a price rebound. However, the MACD indicator shows a negative trend with weak trend strength, which means that there is a possibility of selling pressure easing in the near future.
Today’s Outlook
If the weakness continues to the downside, we may see an opportunity for the pair to rebound to the upside. The resistance level at 0.6000 should be monitored, while the current support level at 0.5957 will significantly affect the price action.
Trading strategies based on Buy/Sell levels
| NZDUSD | In case of buying | in case of selling |
| Entry point | 0.6005 | 0.5974 |
| Target Point 1 (TP1) | First resistance: 0.6014 | First support: 0.5960 |
| Target Point 2 (TP2) | Second resistance: 0.6025 | Second support: 0.5945 |
| Stop Loss (SL) | 0.5974 | 0.6005 |
There seems to be a possibility of a trend reversal if the weakness continues to pressure the selling. We recommend monitoring the price action closely, as any break of the 0.6000 level could indicate the beginning of a positive trend reversal.
