NZDUSD 13 May 2024 Looking at the current market conditions the analysis of NZDUSD on the daily timeframe, shows that the pair has not been able to rally and break through the Kumo Cloud. Instead of breaking through the Kumo Cloud, the pair experienced a trend reversal when it was about to touch the Kumo, making the Kumo a resistance that made it bounce back. Although there is a bearish signal, the MACD indicator shows that the chart is rising towards the 0.00 level. This movement indicates a potential trend change or correction in the near future. Traders need to pay attention to further market dynamics and look for additional confirmation before making trading decisions. In addition, good risk management is still required to anticipate potential price movements contrary to predictions.
