- NZD/USD falls for a third consecutive session, settling near 0.5830.
- Bulls failed to reclaim the 20-day SMA, intensifying bearish momentum.
- Indicators show deepening negative signals, reinforcing the bearish outlook.
The NZD/USD pair extended its losses on Wednesday, marking a three-day losing streak as it continued to drift lower, closing near 0.5850.
The inability to regain the 20-day Simple Moving Average (SMA) highlights the pair’s struggle to find sustained bullish momentum. Technical indicators point to mounting downside risks, with the Relative Strength Index (RSI) slipping further into negative territory, currently at 34, nearing oversold levels and signaling sustained selling pressure. Meanwhile, the Moving Average Convergence Divergence (MACD) histogram has deepened in the red, with a widening gap between the MACD line and the signal line, underscoring intensifying bearish momentum.
With the technical outlook firmly bearish, the pair faces immediate support at 0.5850, with further downside risks toward the 0.5820 level. On the upside, reclaiming the 20-day SMA remains critical for any bullish recovery, but current conditions suggest that such a move remains unlikely in the near term.
NZD/USD Daily Chart
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
Editors’ Picks
Bullish sentiment persists as BTC breaks above $100K mark
Bitcoin breaks above the $100K milestone and reaches a market capitalization of $2 trillion, driven by the choice of a pro-crypto SEC chair, rising institutional demand, and Vladimir Putin's supportive comments.
EUR/USD climbs above 1.0550 on broad USD weakness
EUR/USD extends its daily advance and trades above 1.0550 in the American session on Thursday. Disappointing weekly Initial Jobless Claims data from the US weighs on the US Dollar and helps the pair preserve its bullish momentum.
GBP/USD rises further above 1.2700 after US data
GBP/USD continues to push higher and trades at around 1.2750 in the second half of the day on Thursday. The US Dollar struggles to find demand after the data showed that weekly Initial Jobless Claims rose to 224,000, allowing the pair to hold its ground.
Gold extends its sideways grind at around $2,650
Gold finds it difficult to make a decisive move in either direction and stays in a consolidation phase near $2,650 on Thursday. The benchmark 10-year US Treasury bond yield clings to modest gains above 4.2% despite weak US data, limiting XAU/USD's upside.
GBP/USD rises further above 1.2700 after US data
GBP/USD continues to push higher and trades at around 1.2750 in the second half of the day on Thursday. The US Dollar struggles to find demand after the data showed that weekly Initial Jobless Claims rose to 224,000, allowing the pair to hold its ground.
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.