- 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
AUD/USD remains vulnerable near multi-month trough
AUD/USD ticks higher at the start of a new week amid subdued USD price action, though it remains close to its lowest since August touched on Friday. Rising bets for an early RBA rate cut, China's economic woes, concerns about Trump's impending trade tariffs and geopolitical risks act as a headwind for the risk-sensitive Aussie.
EUR/USD: European Central Bank decision and US CPI next in the docket
The EUR/USD pair posted a weekly high of 1.0629 on Friday but finished the week unchanged around the 1.0570 mark. The Greenback fell following the release of the United States Nonfarm Payrolls report but quickly trimmed losses, pushing the pair back below the 1.0600 mark.
Gold: Bulls remain on the sidelines despite retreating US yields
Gold opened in a calm manner on Monday and spent the rest of the week fluctuating in a narrow channel at around $2,650. Trade Balance data from China and November inflation figures from the United States could help XAU/USD break out of its trading range next week.
Week ahead: The central bank bonanza begins, US CPI eyed too
The last policy decisions of 2024 will shape the market mood, as RBA, BoC, SNB, and ECB are on the agenda this week. The US CPI report will be crucial, too, as the Fed is undecided.
US Dollar flat ahead of weekend full of uncertainties over France's budget
The US Dollar (USD) is recovering with the US trading session opening on Black Friday. The rally in the Euro which was weighing on the US Dollar and the US Dollar Index (DXY), is fading at the start of the US trading session.
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.