NZDUSD Remains a Strong Market – A Bullish Signal

Overall, the bulls seem in control, bears losing momentum
NZDUSD is well on its way to resistance, preparing for the next bull trend

NZDUSD Weekly Price Analysis – April 23

NZDUSD sitting at the resistance might possibly retest soon.

NZDUSD Market

Key Levels:
Resistance levels: $0.7400, $0.7425, $0.7435
Support levels: $0.6800, $0.6400, $0.6200

NZDUSD Long-term trend: BullishIn its long-term perspective, NZDUSD is in a bullish trend. The bear’s increased momentum drops the price down to $0.7145 in the support area, during yesterday’s session. The momentum was lost as exhaustion sets in as the bulls return briefly.

Today’s daily opening candle at $0.7165 at the resistance area is bullish as the bulls return briefly to the market.

NZDUSD rises further to $0.0177 in the resistance area. Price is above the two EMAs, an indication of an uptrend in the context of the strength.

The signal of the stochastic oscillator points down at around level 80% in the overbought region suggests a downward momentum in the price of NZDUSD also the pair may likely encounter a change in trend in the days ahead in the long-term perspective.

EURUSD Medium-term Trend: BullishThe pair is in a bullish trend zone market in its medium-term outlook. $0.7194 in the resistance area is the high attain during yesterday’s session.

The 4-hour chart today opens with a bullish candle at $0.7162 in the resistance area.

Price is initially up at $0.0177 in the resistance area with its wick touching the EMA-9 implies the momentum in price is in an uptrend in the context of the strength.

The stochastic signal pointing up at around level 31% in the oversold region suggests the momentum in price may likely continue to go up in the future in the medium-term outlook.

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