- 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 holds losses near 0.6400 as RBA Bullock's presser gets underway
AUD/USD consolidates losses near 0.6400 after the RBA left the key interest rate unchanged at 4.35% on Tuesday but made a slight dovish shift in the language of the policy statement. This flags RBA rate cuts in the offing early next year. Governor Bullock's presser is underway.
USD/JPY pulls back from 151.50 as traders readjust BoJ rate hike bets
USD/JPY pulls back from 151.50 in the Asian session on Tuesday. Expectations of a BoJ rate hike next week and Middle East geopolitical concerns continue to favor the Japanese Yen as the US Dollar stalls its recent upswing. Traders also stay wary ahead of Wednesday's US inflation test.
Gold eyes acceptance above $2,670 resistance ahead of US inflation test
Gold's price builds on the previous rebound near $2,670 in Tuesday’s Asian trades even as the US Dollar sticks to its recovery mode, awaiting US Consumer Price Index data on Wednesday for fresh directional impetus.
DOGE and SHIB leveraged traders wiped out: Over $108 million in liquidated
Dogecoin and Shiba Inu prices continue to edge down on Tuesday after falling more than 10% on Monday. The recent downturn at the start of this week has liquidated over $108 million from these dog theme-based memecoins in the last 24 hours.
Bitcoin Price Forecast: Amazon shareholders advocate for BTC adoption amid Microsoft’s investment vote
Bitcoin edges down 2.5%, trading below $98,500 on Monday, after rallying 4% and reaching a new all-time high of $104,088 last week. As BTC reached its $100K milestone, big corporates showed interest in the largest digital asset by market capitalization.
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.