NZDUSD Analysis – March 11
The NZDUSD pair continues to demonstrate a robust bullish trend, characterized by a noteworthy resurgence after a brief period of decline lasting approximately one month. This resurgence suggests a strong inclination towards reaching and potentially surpassing the prevailing supply levels.
Key Levels for NZDUSD
Demand Zones: 0.60469, 0.58860
Supply Zones: 0.62106, 0.63372
Long-Term Trend: Bullish
In the long-term perspective, the price encountered significant resistance at the 0.63372 level, resulting in a temporary pause in the initial bullish momentum. However, subsequent price action witnessed a decline, leading to a pivotal juncture where the price reached a bullish breaker block alongside the 0.60469 demand level.
The market has consistently displayed a bullish trend, marked by the formation of higher highs and higher lows following the rejection off the breaker block. Further reinforcing this bullish sentiment is the Moving Average, indicating that the price is currently trading above it. This confluence of factors indicates a promising potential continuation of the bullish trend, with the objective of breaching the supply levels at 0.60469 and 0.58860.
Short-Term Trend: Bearish
In the short-term outlook, the price is presently testing the trendline resistance, suggesting a possible temporary decline in price before any subsequent bullish movement. This viewpoint is supported by the Relative Strength Index (RSI), which indicates that the price is currently in the overbought region, further reinforcing the short-term bearish outlook. However, it is important to note that this bearish sentiment is expected to manifest as a temporary pullback.
In conclusion, the NZDUSD pair displays significant indications of a firm bullish trend, with both long-term and short-term analyses providing valuable insights for traders and investors alike. While short-term fluctuations may occur, the broader trend remains strongly bullish, reflecting the resilience and potential of the currency pair amidst changing market dynamics.
Do you want to take your trading to the next level? Join the best platform for that here
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.