NZD/USD TECHNICAL ANALYSIS

NZDUSD Technical Analysis

NZDUSD Technical Analysis: Weekly Chart

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

RSI is in over sold zone which indicates mild bullishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 0.6057 & the resistance level is at 0.6187.

NZDUSD was trading in down channel before there is breakout downside.

NZDUSD Technical Analysis: Daily Chart

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

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

Its immediate support is 0.6094 & the resistance level is at 0.6188.

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

How to Trade NZDUSD this Week:

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

TRADE SUGGESTION- SELL AT 0.6145, TAKE PROFIT AT 0.6094 AND STOP LOSS AT 0.6188

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