In Monday's session, the NZD/USD pair traded with mild losses, and sellers gained ground.
The daily RSI and MACD indicate diminishing buying momentum as bulls struggle to gain further ground. The hourly indicators reveal that sellers have a slight upper hand ahead of the Asian session. In Monday's session, the NZD/USD pair traded with mild losses, and sellers gained ground. As the pair is facing strong resistance at the 200-day Simple Moving Average , the pair struggles to consolidate advances.
This is supported by the MACD, which also prints decreasing green bars, further confirming the decrease in buying momentum at an intraday level. NZD/USD hourly chart Interpreting the broader perspective, the NZD/USD is positioned below the thresholds of its 100, 200-day Simple Moving Averages . Significant bearish momentum, implying a prevailing downward trend in both the medium and long term.
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