Technical Analysis for the New Zealand Dollar (NZD/USD) pair, H1 timeframe
The New Zealand dollar is receiving significant support as risk appetite improves in global markets, driven by easing regional trade tensions in Asia and rising commodity prices (especially dairy products, which are a major influence on the NZD).
On the US side, Wednesday’s CPI inflation report came in line with expectations, tempering expectations for further interest rate hikes, supporting commodity-linked currencies like the NZD and AUD
Technical Indicator Analysis
Moving Averages
Price is above all moving averages
Uptrend line remains intact
MACD
Positive momentum continues
Bullish crossover continues and no signs of weakness have emerged yet
Stochastic
Fluctuating in overbought areas (above 70)
Indicating a possible slight correction before continuing the rise
Technical Analysis for the NZD/USD: Possible Scenarios
Bullish Scenario
Continued rise towards 0.5910 and then 0.5930
Provided stability above 0.5853
Bearish Scenario
If 0.5853 is broken, we may see a decline towards 0.5832
This could constitute a new buying opportunity in the event of a strong rebound
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | NZDUSD |
| 0.58908 | 0.58535 | Entry point |
| First resistance: 0.59106 | First support: 0.58332 | Target Point 1 (TP1) |
| Second resistance 0.59305 | Second support 0.58133 | Target Point 2 (TP2) |
| 0.58535 | 0.58908 | Stop Loss (SL) |
The NZD/USD pair is steadily moving in an upward trend supported by strong fundamentals.
With the price remaining above 0.5832, there is still an opportunity to continue rising towards 0.5910–0.5930.
If signs of weakness or clear overbought conditions appear, pullbacks will provide buying opportunities at reliable support areas.
