NZD/USD WEEKLY SCENARIO – 07 March 2022

Technical Analysis

NZDUSD Technical Analysis: Weekly Chart

In the weekly charts, NZDUSD is trading in a down channel.

It is trading below 50 days SMA & above 20 and 100 days SMA.

The immediate support is 0.6798 & the resistance level is at 0.6918.

NZDUSD is trading in the down channel until there is a trend reversal.

NZDUSD Technical Analysis: Daily Chart

In the daily charts, NZDUSD was trading in an up channel.

It is trading above all SMA.

The immediate support is 0.6850 & the resistance level is 0.6923.

NZDUSD was trading in the up channel before the breakout upside. 

How to Trade NZDUSD this Week:

NZDUSD will follow the uptrend until their trend reversal. So, remain bullish on NZDUSD.

TRADE SUGGESTION- BUY AT 0.6878, TAKE PROFIT AT 0.6923 AND STOP LOSS AT 0.6850

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