Market Analysis: NZD/USD Remain In Uptrend
Market Analysis: NZD/USD Remain In Uptrend
NZD/USD is also moving lower and might attempt a fresh increase from 0.6000.
Important Takeaways for NZD USD Analysis Today
NZD/USD Technical Analysis
On the hourly chart of NZD/USD on FXOpen, the pair started a steady increase from the 0.5940 level. The New Zealand Dollar broke the 0.6000 resistance to start the recent increase against the US Dollar.
The pair settled above 0.6000 and the 50-hour simple moving average. It tested the 0.6050 zone and is currently correcting gains. The pair corrected lower below the 0.6030 level. The pair also traded below the 23.6% Fib retracement level of the upward wave from the 0.5939 swing low to the 0.6046 high.
The NZD/USD chart suggests that the RSI is still below 50 and signaling more downsides. On the downside, there is major support forming near 0.6010.
The next major support is near the 50% Fib retracement level of the upward wave from the 0.5939 swing low to the 0.6046 high at 0.5995. There is also a major bullish trend line forming with support at 0.5995.
If there is a downside break below the 0.5995 support, the pair might slide toward the 0.5965 support. Any more losses could lead NZD/USD in a bearish zone to 0.5940.
On the upside, the pair might struggle near 0.6030. The next major resistance is near the 0.6045 level. A clear move above the 0.6045 level might even push the pair toward the 0.6080 level. Any more gains might clear the path for a move toward the 0.6120 resistance zone in the coming days.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
NZD/USD is also moving lower and might attempt a fresh increase from 0.6000.
Important Takeaways for NZD USD Analysis Today
- NZD/USD is also moving lower below the 0.6030 support zone.
- There is a major bullish trend line forming with support at 0.5995 on the hourly chart of NZD/USD at FXOpen.
NZD/USD Technical Analysis
On the hourly chart of NZD/USD on FXOpen, the pair started a steady increase from the 0.5940 level. The New Zealand Dollar broke the 0.6000 resistance to start the recent increase against the US Dollar.
The pair settled above 0.6000 and the 50-hour simple moving average. It tested the 0.6050 zone and is currently correcting gains. The pair corrected lower below the 0.6030 level. The pair also traded below the 23.6% Fib retracement level of the upward wave from the 0.5939 swing low to the 0.6046 high.
The NZD/USD chart suggests that the RSI is still below 50 and signaling more downsides. On the downside, there is major support forming near 0.6010.
The next major support is near the 50% Fib retracement level of the upward wave from the 0.5939 swing low to the 0.6046 high at 0.5995. There is also a major bullish trend line forming with support at 0.5995.
If there is a downside break below the 0.5995 support, the pair might slide toward the 0.5965 support. Any more losses could lead NZD/USD in a bearish zone to 0.5940.
On the upside, the pair might struggle near 0.6030. The next major resistance is near the 0.6045 level. A clear move above the 0.6045 level might even push the pair toward the 0.6080 level. Any more gains might clear the path for a move toward the 0.6120 resistance zone in the coming days.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
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