NZDUSD WEEKLY SCENARIO – 01 MARCH 2022

forex technical analysis

NZDUSD Technical Analysis: Weekly Chart

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

It is trading below all SMA.

The immediate support is 0.6726 & the resistance level is at 0.6848.

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

NZDUSD Technical Analysis: Daily Chart

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

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

The immediate support is 0.6747 & the resistance level is 0.6803.

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

How to Trade NZDUSD this Week:

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

TRADE SUGGESTION- BUY AT 0.6771, TAKE PROFIT AT 0.6803 AND STOP LOSS AT 0.6747

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