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 Good Morning hope all my friends who work here are happy in their life . I want to analyze the movement of the price of NZD/USD from a technical and fundamental point of view. NZD/USD is trading at 0.5608 at the time of writing. Currently, US dollar is under pressure from the NZD/USD. If the NZD/USD strengthens, then US dollar may weaken and fall lower. If the US dollar remains weak, more strength can be seen in NZD/USD. The rise in the prices now tells us about the future that lies in the bullish direction, as there has been a buy trend for a couple of trading days. Seems it will continue. The Relative Strength Index (RSI) sits at 58.5985, showing strong demand for the current market cap and ongoing buying pressure . The moving average convergence divergence (MACD) indicator in this chart is giving a further buy signal for NZD/USD . According to the 20 and 50 EMA indicators, there is a correction signal and the price is above the 20 and 50 EMA line. In the last few days, I have conducted additional study and have reached this conclusion.

The initial and second resistance levels for NZD/USD are 0.5618 and 0.5661 respectively. If NZD/USD breaks the 0.5661 level after 0.5618, then NZD/USD can go higher by 0.6876 or 0.7121 which are the 3 rd and 4 th levels of resistance and we can see more bullish movement . On the other hand, the Initial and second support levels for NZD/USD are 0.5582 and 0.5935. If NZD/USD breaks the 0.5935 level after 0.5582, then NZD/USD can go lower by 0.5343 or 0.5121 which are the 3 rd and 4 th levels of support and we can see more bearish movement. Using technical tools, we will trade successfully today. But we'll try to get a decent entry on it before trading. 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: