NZD/USD Price Analysis: Pair tallied another daily loss, indicators show bearish outlook

NZD/USD tumbled by 0.80% on Wednesday, currently trading around 0.5880.
Pair continues moving towards August 5 lows around 0.5870.
The RSI and the MACD both indicate that selling pressure is rising in the NZD/USD pair.

Patricio Martín FXStreet

The NZD/USD pair extended its downtrend on Wednesday, declining by 0.8% to 0.5880, continuing its move towards the August 5 lows. The pair's overall momentum seems to be bearish, as indicated by both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD).

The RSI, which measures overbought or oversold conditions, is around 33, indicating increasing selling pressure. The MACD, which measures trend strength and momentum, is red and rising, also suggesting a bearish outlook. The MACD histogram is also red and rising, further confirming the presence of the bearish forces. Although the RSI is currently oversold, which could potentially trigger a recovery, the overall technical outlook remains negative.

Resistance levels are seen at 0.5900, 0.5930, and 0.5950, and support levels at 0.5870, 0.5830, and 0.5815.

NZD/USD daily chart

Author

Patricio Martín

FXStreet

Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Breaking: US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.