NZDUSD 1 May 2024 Analysis for NZDUSD on the weekly timeframe shows that the pair is still below the Kumo Cloud. Despite several attempts to rally, the pair experienced another trend reversal that brought the movement towards a bearish direction. In addition, the pair is also below the 0.00 level on the MACD (Moving Average Convergence Divergence) indicator, indicating that bearish momentum is still dominant. The combination of these factors indicates that the pair may continue to experience bearish pressure in the longer term. Traders need to pay close attention to market dynamics and look for further confirmation before making trading decisions. Good risk management is also necessary to deal with the volatile market conditions.
