NzdUsd could rise to 0.58 (swing trade)The final quarter of 2024 was particularly challenging for the NZD, with the currency declining by 800 pips from its peak to its lowest point. More significantly, this drop represents a devaluation of over 12%, which is substantial for a major currency pair.
As 2025 begins, however, OANDA:NZDUSD has entered a consolidation phase, holding above the critical support zone near 0.5550. This level is noteworthy and deserves attention as a potential turning point.
While the overall trend remains bearish, a rebound from this key support area is likely. If this occurs, the pair could move higher toward the 0.58 resistance level.
In summary, dips near the support zone present buying opportunities with a favorable risk-to-reward ratio, targeting a return of at least 1:2.
Nzdusdsiganls
Looking for 0.6974 level to be blown out NZDUSDLong NZDUSD
I am looking for the 0.6974 level on NZDUSD to be blown out before Wednesday 10pm EST because by this time the market will decide to consolidate. This is not a crazy trade, the set take profit is just the cherry on top for this trade but the main objective is really at 0.6974
Looking to enter at 0.69249
Stop loss is at 0.68910
Take Profit is at 0.69928
I will add updates here as the trade idea progresses.
NZDUSD Short @ 0.72000I see that NZDUSD has started making a sharp decline lower. I am looking for a retest of the 0.72000 (There is a chance that we may not get that, it can just run from where it currently is without looking back.)
If we get a retrade to the 0.72000, it shouldn't stay there long.
Entry: 0.72000
SL: 0.72427
TP: 0.71099