NZDUSD Technical Analysis: The NZD/USD pair is trading in a weak uptrend today, with the pair recording a high of 0.56710 and a low of 0.56466, and is currently trading at 0.56598.
NZDUSD Technical Analysis: Technical Analysis
From the technical analysis, it is clear that the pair is trading below the moving averages, reflecting a weak uptrend. This indicates that the current bullish momentum lacks enough strength to continue strongly. The MACD indicator is also showing positive signals, but it remains weak, which reinforces the weakness and instability of the uptrend.
Trading Expectations:
In light of the weak uptrend, the pair is likely to remain in a narrow trading range in the coming hours, with the possibility of a correction or fluctuation in prices. The markets remain in a state of anticipation, which increases the uncertainty.
Trading strategies based on Buy/Sell levels
| NZDUSD | In case of buying | in case of selling |
| Entry point | 0.56683 | 0.56439 |
| Target Point 1 (TP1) | First resistance: 0.56805 | First support: 0.56345 |
| Target Point 2 (TP2) | Second resistance: 0.56700 | Second support: 0.56220 |
| Stop Loss (SL) | 0.56439 | 0.56683 |
The NZD/USD uptrend appears to be weak, with signals from the moving averages and MACD confirming this weakness. Caution is advised in current trading and not to count on a strong continuation of the uptrend.
