NZDUSD Technical Analysis: Weekly Chart

In the weekly charts, NZDUSD was trading in a down channel. NZDUSD is currently trading below all SMA.

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 0.57000 the resistance level is at 0.57700

NZDUSD was traded in a down channel before there is a downside breakout.

NZDUSD Technical Analysis: Daily Chart

In the daily charts, NZDUSD is trading in a down channel. NZDUSD is currently trading below all SMA.

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 0.56900 the resistance level is at 0.57900

NZDUSD will trade in a down channel until there is a trend reversal.

How to Trade NZDUSD this Week:

NZDUSD will follow the downtrend until its trend reversal. So, remain bearish on NZDUSD.

TRADE SUGGESTION- SELL AT 0.57376, TAKE PROFIT AT 0.56900 AND STOP LOSS AT 0.57900.