NZDUSD: WEEKLY SCENARIO

NZDUSD Technical Analysis: Weekly Chart

In the weekly charts, NZDUSD was trading in a down channel. NZDUSD is currently trading above all SMA except MA (5).

RSI is in the buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.

Its immediate support is 0.58100 the resistance level is at 0.64300

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

NZDUSD Technical Analysis: Daily Chart

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

RSI is in the buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.

Its immediate support is 0.59000 the resistance level is at 0.61500

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 0.59500, TAKE PROFIT AT 0.58000, AND STOP LOSS AT 0.61500