FX.co ★ Fxcaptain | NZD/USD

T E C H N I C A L _ A N A L Y S I S N Z D / U S D Hello everyone, good morning! Today, I am excited to share my trading analysis on NZD/USD . NZD/USD is trading at 0.5957 at the time of writing. The chart of the NZD/USD technical outlook shows that the NZD/USD technical outlook is bearish. If we look at the indicators used in this chart, The Relative Strength Index (RSI) indicator is below 50. If we look at the moving average convergence divergence (MACD) indicator here, the signal line or slow line is below the zero line or midline. On this chart, indicators are in favor of further decrease. On the chart, NZD/USD is trading below the 20-day exponential moving average. At the same time, the 50-day exponential moving average is also above the current NZD/USD. So far, the technical indicators support the downward movement of NZD/USD.

Based on my analysis, here are the best positions in the market today. If NZD/USD breaks below the support of 0.5936, then NZD/USD may further weaken to 0.5432 or 0.4943 which is the 2nd and 3rd level of support respectively. But if at this time NZD/USD breaks the upper 0.6043, then the next target of NZD/USD can be 0.6233 or 0.6373 which is the 2nd and 3rd level of resistance respectively. Right now there is a very good opportunity to sell NZD/USD. The indicators used in the chart: MACD indicator: RSI indicator period 14: 50-day exponential moving average color Orange: 20-day exponential moving average color Magenta: