{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/nzdusd-bearish-trend-lack-strong-footing\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/nzdusd-bearish-trend-lack-strong-footing\/","headline":"NZDUSD Bearish Trend Lack Strong Footing","name":"NZDUSD Bearish Trend Lack Strong Footing","description":"Market Analysis – Kiwi Buyers Are Resisting Selling Pressure\u00a0 NZDUSD’s bearish trend lacks strong footing. The sellers have faced challenges as the buyers of the Kiwi (NZDUSD) have been hindering their progress.\u00a0 The sellers made an initial breakthrough last week, escaping the key level of 0.60030. This level was seen as a significant zone for […]","datePublished":"2024-04-06","dateModified":"2024-04-06","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2024\/04\/YK0NwUZ2.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2024\/04\/YK0NwUZ2.png","height":577,"width":1195},"url":"https:\/\/forexschoolonline.com\/nzdusd-bearish-trend-lack-strong-footing\/","about":["charts","Forex","Forex Strategies","Forex Trading Tools","FX Technical Analysis","NZD\/USD","NZDUSD","Price Action Charts in Focus","Price Action Trigger Signals","Support & Resistance","Technical Analysis","Trade Idea","Trading","Trading Mindset & Psychology","Trading strategy"],"wordCount":348,"keywords":["Daily Chart","EURUSD","Forex","forex price action","FX Technical Analysis","Market Anticipation","Market Expectation","NZDUSD","Price Action","Price Analysis","Price Chart","Technical Analysis"],"articleBody":"Market Analysis – Kiwi Buyers Are Resisting Selling Pressure\u00a0NZDUSD’s bearish trend lacks strong footing. The sellers have faced challenges as the buyers of the Kiwi (NZDUSD) have been hindering their progress.\u00a0 The sellers made an initial breakthrough last week, escaping the key level of 0.60030. This level was seen as a significant zone for the sellers to establish their dominance. However, despite this initial success, the sellers have not been able to make substantial progress. The buyers on the Kiwi price have been resilient, causing a holdback in the sell market.NZDUSD Key LevelsResistance Levels: 0.63820, 0.62810\u00a0Support Levels: 0.61700, 0.60030The buy traders are determined to gain strength and push the market towards the 0.60030 significant zone. They have been battling against the weakening Kiwi (NZDUSD) for quite some time now. Earlier this year, due to the stronger side of the dollar, the bears were able to direct the price lower from the significant level of 0.63820. The buyers put up a struggle below the 0.62810 price zone, but after a period of consolidation, the sellers eventually expanded lower. They were able to breach through the 0.61700 significant level.The market witnessed a prolonged period of price consolidation below the 0.61700 key level during March. However, the bears recently led a breakout towards the 0.60030 market level. This breakout indicated the sellers’ determination to establish a strong trend. Despite this, the buyers are currently slowing down their movement, creating a tense battle between the two sides.Market Expectation\u00a0The Moving Average Convergence and Divergence (MACD) indicator shows the flow of the market, and in this case, it reflects a bearish influence. This suggests that the sellers still have the potential to drive the price down further. Considering the current market conditions, a deep purge down to the key level of 0.58500 is still very likely to hold. This level could act as a strong support for the sellers, further solidifying their position in the market.Note:\u00a0Forexschoolonline.com\u00a0is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results"}