NZD/USD Price Analysis: Mixed outlook as indicators signal potential shift


  • Technical indicators suggest a gradual recovery of buying pressure, but resistance at the 20-day SMA may hinder further gains.
  • Indeed, the buyers got rejected at the mentioned average which made the pair trim daily gains.

The NZD/USD pair has resumed its choppy movement, with a an upward bias, after a brief dip below the 0.6000 support. The pair is currently trading around 0.5994, facing resistance at the 20-period Simple Moving Average (SMA), which has capped further gains in recent sessions.

Technical indicators are recovering, suggesting a potential shift in momentum. The Relative Strength Index (RSI) is gradually recovering from oversold territory, indicating a recovery in buying pressure. However, the Moving Average Convergence Divergence (MACD) histogram remains negative, suggesting that selling pressure is still dominant.

If the RSI continues to rise and the MACD turns positive, it could indicate a shift towards a bullish trend. Conversely, if the RSI falls back into oversold territory and the MACD continues to decline, it could signal a continuation of the downtrend.

The pair is facing resistance at 0.6000, 0.6030, and 0.6040, while support is at 0.5960, 0.5930, and 0.5900. 

NZD/USD daily chart

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

EUR/USD turns south as Georgia exit poll shows a slim Trump's advantage

EUR/USD turns south as Georgia exit poll shows a slim Trump's advantage

EUR/USD retreated sharply and trades below the 1.0900 mark as the focus stands on the US Presidential election. Georgia, one of the seven swing states, has closed polling, and exit polls show a slim Trump advantage. 

EUR/USD News
USD/JPY under pressure around 151.60 on US presidential election day

USD/JPY under pressure around 151.60 on US presidential election day

USD/JPY  pressures its recent lows as the US election outcome looms. Market players keep dumping the US Dollar on bets former President Donald Trump will return to office, despite nothing is set and done yet. 

USD/JPY News
Gold gleams US election fears and soft US Dollar boosts prices

Gold gleams US election fears and soft US Dollar boosts prices

Gold prices increased during the New York session as Americans kept going to the polls amidst one of the closest of the US presidential elections this century. Risk appetite has improved, yet the golden metal post gains of over 0.22% due to uncertainty linked to election jitters and the Middle East.

Gold News
Ethereum Price Forecast: ETH could rise 10% upon a Trump win, investors de-risk ahead of election results

Ethereum Price Forecast: ETH could rise 10% upon a Trump win, investors de-risk ahead of election results

Ethereum (ETH) is trading near $2,450 on Tuesday, but it could stage a 10% rise to test the $2,707 key resistance level if Donald Trump wins the US presidential election.  However, on-chain data reveals uncertainty and short-term bearish pressure as ETH investors appear to be de-risking ahead of the election results.

Read more
US election day – A traders’ guide

US election day – A traders’ guide

Election day volatility: Brace for potential wild market swings. Election days bring opportunities, but also risks. Unclear results can increase volatility further.

Read more
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

Forex MAJORS

Cryptocurrencies

Signatures