• The NZD/USD pair is down 0.84% ​​on Friday at 0.6170.
• The RSI and MACD indicators are in line with the bearish outlook, signaling negative momentum.
• The 20-day moving average provides a powerful barrier for sellers.

The NZD/USD pair moved calmly in a narrow range, but a pointed decline on Friday turned the technical outlook bearish, at least in the tiny term, losing over 0.80% by the end of the week.

The Relative Strength Index (RSI) has fallen sharply, indicating that momentum is shifting in favor of the bears. The RSI is currently trading at 52, which is neutral territory. However, the pointed decline suggests that the pair is likely to break through the 50 level, which would confirm the bearish trend. The Moving Average Convergence and Divergence (MACD) indicator has printed a fresh red bar and also suggests that momentum is negative and that the pair is likely to continue to fall.

NZD/USD Daily Chart

The 20-day SMA at 0.6160 provides powerful support against selling pressure, but a break of this level would open the door for further declines towards 0.610-0.6150. However, if the pair manages to hold the line, 0.6200 could be tested again.