{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/nzdusd-bulls-struggle-to-conquer-key-level\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/nzdusd-bulls-struggle-to-conquer-key-level\/","headline":"NZDUSD Bulls Struggle to Conquer Key Level","name":"NZDUSD Bulls Struggle to Conquer Key Level","description":"Market Analysis – Kiwi Sellers Are in Defensive Mode NZDUSD bulls struggle to conquer key levels amidst balanced momentum. The buyers in the NZDUSD market are yet to fully conquer the 0.62300 market zone. Despite recent attempts by the bulls to breach this key level, they have gone fain. As a result, they have been […]","datePublished":"2023-12-19","dateModified":"2023-12-19","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\/2023\/12\/k12jCruW.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2023\/12\/k12jCruW.png","height":577,"width":1195},"url":"https:\/\/forexschoolonline.com\/nzdusd-bulls-struggle-to-conquer-key-level\/","about":["Article","charts","Featured Articles","Forex","Forex Strategies","FX Technical Analysis","NZD\/USD","NZDUSD","Price Action Charts in Focus","Price Action Trigger Signals","Support & Resistance","Technical Analysis"],"wordCount":329,"keywords":["Daily Chart","Forex","forex price action","FX Technical Analysis","LBLOCKUSD","Market Anticipation","Market Expectation","NZDUSD","Price Action","Price Analysis","Price Chart","Technical Analysis"],"articleBody":"Market Analysis – Kiwi Sellers Are in Defensive ModeNZDUSD bulls struggle to conquer key levels amidst balanced momentum. The buyers in the NZDUSD market are yet to fully conquer the 0.62300 market zone. Despite recent attempts by the bulls to breach this key level, they have gone fain. As a result, they have been unable to make significant progress. The daily chart currently reflects a picture of buyers missing out on the opportunity to push the price higher.NZDUSD Key ZonesResistance Zones: 0.62860, 0.62300Support Zones: 0.59510, 0.57780The bulls started this week with a deliberate focus on recovery. Since November, they have demonstrated a consistent and long-term bullish trend. The initial surge in bullish momentum in November sparked optimism among investors. This, however, raised hopes for a year-end rally. The NZDUSD pair broke above the key resistance level of 0.58500, signaling a potential shift towards positive momentum.Since then, the bulls have remained determined to pursue a solid bullish course. However, the momentum in the Kiwi market has reached a state of balance. The initial bullish momentum has faded, but the bears have not managed to take decisive control either. The bears are eagerly looking for an opportunity to push the price lower again, while the bulls are not giving up easily.Market ExpectationAs it stands, the Kiwi remains on a weak bullish trend, with the bears opposing any significant upward movement. However, there is still a plausible chance of a break above the 0.62300 significant level shortly. This would potentially pave the way for further bullish momentum and a renewed push by the buyers.The Parabolic SAR (Stop and Reverse) indicator, despite reflecting a weak trend, still confirms the overall bullish sentiment in the market. This indicates that there is a lingering bullish bias, even though the momentum has weakened.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."}