On Thursday, the NZD/USD extended its losses below the 20-day Simple Moving Average (SMA), its fourth consecutive rejection at this strong support level this week.
Despite NZD/USD's attempts to recover losses, another rejection at the 20-day SMA sees a retreat to 0.6122. The short-term outlook is increasingly bearish, with rising selling traction visible. For a break in the bearish outlook, the pair must recover the 20-day SMA at 0.6150. On Thursday, the NZD/USD extended its losses below the 20-day Simple Moving Average , its fourth consecutive rejection at this strong support level this week. The pair retreated to 0.6122.
NZD/USD daily chart For the NZD/USD, immediate support remains near the 0.6100 level. Further support is available at the convergence of the 100-day and 200-day SMAs at 0.60695 and 0.60627 respectively. These levels could provide a solid foundation in the event of an extension of the downside move. A break below these SMA convergence points might be indicative of a strong sell-off scenario. In stark contrast, resistance for the pair is entrenched around the 20-day SMA at 0.6150 level.
Majors Currencies Technical Analysis
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
NZD/USD Price Analysis: Surrenders majority of hawkish RBNZ-induced gainsThe NZD/USD pair falls sharply to near the crucial support of 0.6100 in Wednesday’s European session.
Lire la suite »
NZD/USD Price Analysis: Bullish sentiment maintains despite softening momentumOn Wednesday's session, the NZD/USD showed diminishing buying traction and fell just below 0.6100.
Lire la suite »
NZD/USD Price Analysis: Forming a rectangle as it unfolds in a rangeNZD/USD has spent the last week or so forming a range bound consolidation (shaded rectangle on chart) which could represent the flag square of a Bull Flag continuation pattern.
Lire la suite »
NZD/USD Price Analysis: Posts fresh 10-week high near 0.6160 on China’s fresh stimulusThe NZD/USD pair refreshes its 10-week high at 0.6165 in Tuesday’s European session.
Lire la suite »
NZD/USD Price Analysis: Attempts Bullish Flag breakoutThe NZD/USD pair advances to 0.6185 in Monday’s American session as the United States (US) Institute of Supply Management (ISM) has reported a weak Manufacturing PMI report for May.
Lire la suite »
NZD/USD Price Analysis: Tests Bullish Flag breakout regionThe NZD/USD pair corrects modestly from fresh almost three-month high of 0.6200 in Tuesday’s European session.
Lire la suite »