The daily RSI for the NZD/USD reveals growing selling pressure, nearing oversold conditions.The hourly indicators also remain weak.The pair will close a 0.80% losing week.The NZD/USD pair saw a 0.25% loss on Friday’s sessing and continues exhibiting a significant bearish tendency. Both short-term and long-term outlooks suggest the prevalence of sellers, which may signal that the pair is bound for further downside.
On the daily
chart, the Relative Strength Index (RSI) indicates a bearish trend. It lies deep in negative terrain and edged near oversold territory. The escalating red bars on the Moving Average Convergence Divergence (MACD) histogram align with this bearish stance, augmenting this downturn
prediction.
NZD/USD daily chart
On the hourly chart, the RSI also points south standing below 50 while the MACD exhibits dwindling green bars, indicative of reduced buying momentum.
NZD/USD hourly chart
From a wider viewpoint, NZD/USD presently exhibits a clear bearish trend, given its position below the Simple Moving Average (SMA) for 20, 100, and 200-day periods. However, as
indicators approach oversold conditions, the pair may stage a corrective rebound which could give the buyers a chance to reclaim the 20-day SMA. In the meantime, movements below these levels would leave the trend bearish.
NZD/USD Overview Today last price 0.5885 Today Daily Change -0.0017 Today Daily Change % -0.29 Today daily open 0.5902
Trends Daily SMA20 0.5978 Daily SMA50 0.6067 Daily SMA100 0.6127 Daily SMA200 0.6057
Levels Previous Daily High 0.5943 Previous Daily Low 0.5872 Previous Weekly High 0.6079 Previous Weekly Low 0.5933 Previous Monthly High 0.6218 Previous Monthly Low 0.5956 Daily Fibonacci 38.2% 0.5899 Daily Fibonacci 61.8% 0.5916 Daily Pivot Point S1 0.5869 Daily Pivot Point S2 0.5835 Daily Pivot Point S3 0.5798 Daily Pivot Point R1 0.594 Daily Pivot Point R2 0.5977 Daily Pivot Point R3 0.6011