- NZD/USD declines on Tuesday, retreating to 0.5800 after failing to reclaim the 20-day SMA.
- Pair faces sturdy rejection on the 20-day SMA, falling to contemporary lows not seen since November 2023.
- RSI declines sharply in detrimental territory, whereas MACD histogram exhibits weakening bullish momentum with lowering inexperienced bars.
The NZD/USD pair confronted renewed promoting stress on Tuesday, dropping by 1.14% to 0.5800 after a failed try to reclaim the 20-day Easy Shifting Common (SMA). The rejection at this key resistance stage highlights the pair’s lack of ability to reverse its bearish pattern, pushing it to contemporary lows not seen since November 2023.
Technical indicators reinforce the bearish sentiment. The Relative Energy Index (RSI) has declined sharply to 39, remaining in detrimental territory and signaling intensifying promoting stress. Equally, the Shifting Common Convergence Divergence (MACD) histogram prints lowering inexperienced bars, suggesting weakening bullish momentum and a scarcity of restoration indicators.
With the pair now buying and selling close to the crucial 0.5800 psychological assist stage, the draw back dangers stay elevated. A break beneath this stage may pave the way in which for additional declines, doubtlessly focusing on the 0.5770-0.5750 vary. On the upside, the 20-day SMA at 0.5890 stays the important thing barrier, with a decisive break above it wanted to shift the outlook again to impartial or bullish.
NZD/USD every day chart
