NZDUSD Possibly Making Its Way Up – To Signal A Pump

The overall outlook of the currency pair market is bullish in trend.
The bears may have temporal control.

NZDUSD Weekly Price Analysis – April 30

NZDUSD price currently recovering and showing positive signs above the $0.7243 resistance level.

NZDUSD Market

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

NZDUSD Long-term Trend: BullishThe NZDUSD pair is in an upward move in the long-term outlook. The bears’ gradual return dropped the trend of NZDUSD down to $0.7222 in the support area before the close of yesterday’s session.

NZDUSD price may head towards $0.7400. After few days of increased actions by the bears, the momentum lost and bulls return to take over.

Today’s daily chart opens with the formation of a pin bar hammer at $0.7241 in the resistance area. An indication of a trend reversal.

The price of NZDUSD is initially up at $0.7254 above the two EMAs in the resistance area, an indication of upward momentum in the price of the pair.

Hence, the stochastic signal pointing up at level 89 % in the overbought region is an indication that the NZDUSD pair is in upward momentum and buyers are in control at the moment in the long term.

NZDUSD Medium-term Trend: BullishOn the 4-hour chart, the trend is in an upward move. Pressure from the sellers pushed the price of the NZDUSD pair down to $0.7222 in the support area before the close of the session yesterday.

Today’s 4-hour chart opens with the formation of a bullish doji candle at $0.7246 in the resistance area. An indication of a trend reversal. Bears’ brief return drops the price down to $0.7239 in the support area.

Price is below the EMA 9 indicates the sellers are on track gradually and the signal of the stochastic oscillator pointing up at around level 59% in the oversold region implies upward momentum in the price of NZDUSD within the range in the medium-term.

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