The daily RSI reveals a negative trend for NZD/USD, suggesting prevalent selling pressure.
As the RSI stands near oversold conditions, the daily chart hints at a potential consolidation in the next sessions.
Indicators on the hourly chart corroborate the selling bias, while subtly highlighting signs of imminent recovery.
The NZD/USD pair is currently trading at around 0.5903, suggesting a stronghold of the sellers in the market.
The pair’s tendency to trade below the short-term Simple Moving Averages (SMAs) indicates a short-term bearish outlook.
However, with the oversold conditions looming, a possible reversal may not be too far off.
On the daily chart, the Relative Strength Index (RSI) readings have remained under a negative trend with the RSI sitting at 35, indicating a nearing oversold condition. This suggests that sellers have dominated the market in recent sessions.
The negative momentum is also represented by the fresh red bar of the Moving Average Convergence Divergence (MACD), suggesting a current bearish bias. However, the nearing oversold condition signals the possibility of a trend reversal.
NZD/USD
| Overview | |
|---|---|
| Today last price | 0.5905 |
| Today Daily Change | -0.0075 |
| Today Daily Change % | -1.25 |
| Today daily open | 0.598 |
| Trends | |
|---|---|
| Daily SMA20 | 0.6011 |
| Daily SMA50 | 0.6082 |
| Daily SMA100 | 0.6136 |
| Daily SMA200 | 0.6065 |
| Levels | |
|---|---|
| Previous Daily High | 0.6011 |
| Previous Daily Low | 0.5933 |
| Previous Weekly High | 0.6079 |
| Previous Weekly Low | 0.5933 |
| Previous Monthly High | 0.6218 |
| Previous Monthly Low | 0.5956 |
| Daily Fibonacci 38.2% | 0.5963 |
| Daily Fibonacci 61.8% | 0.5981 |
| Daily Pivot Point S1 | 0.5938 |
| Daily Pivot Point S2 | 0.5897 |
| Daily Pivot Point S3 | 0.586 |
| Daily Pivot Point R1 | 0.6016 |
| Daily Pivot Point R2 | 0.6053 |
| Daily Pivot Point R3 | 0.6094 |