NZDUSD remains stuck in a range as the waiting game continues

It’s been a pretty choppy week for many markets as traders continue to wait for the US reciprocal tariffs announcement next Wednesday before taking positions with more conviction.

That’s what the market is focused on now and all the rest is just short term noise. That catalyst should lead to sustained trends. On the 1 hour chart below, we can see that the NZDUSD pair has just been bouncing around between the 0.5710 support and the 0.5770 resistance.

Traders will likely continue to play the range until we get a breakout on either side but from a risk management perspective, waiting for April 2nd would be the way to go.

This article was written by Giuseppe Dellamotta at www.forexlive.com.