FX.co ★ NZD/USD

NZDUSD Technical Analysis I'm talking about the New Zealand dollar today. The market price is between the support and resistance levels; the current market price is 0.6019. The price has been in a downtrend and declined since last week. Since the support level is very strong, the price will rise slightly. The current market price support is at 0.6011. If the price successfully breaks the support level, the market price will form a new support level in the next few days. If the price manages to form a new support level, the next target for the market price will be 0.5934. The market price is currently facing resistance at 0.6083. If the price breaks the resistance level, the market will be able to form a new resistance level. The next target price maybe 0.6125.

If we look at the first half time frame, the market is showing a bearish trend. We are now discussing the h4 time frame chart prepared today. The chart above uses support and resistance levels and the h4 time frame. If we look at the time frame chart for the first half of the year, we can see how the market price reached the high of the month and continued to fall to form new support. If the candle falls below the closing resistance level on the h1 time frame, the market price will be able to form a new resistance level. If the market price closes below the support level on the h4 time frame of the candle, the market price may break the support level and create a new support level; the next market price target is 0.5934. 50-day simple moving average color Medium Slate Blue: 150-day simple moving average color Dim Gray