- NZD/USD is testing the upper boundary of the descending channel near the nine-day EMA at 0.5980.
- 14-day RSI remains below 50; a further decline towards 30 points would strengthen the bearish bias.
- The pair may weaken towards the lower boundary of the descending channel at 0.5880.
The NZD/USD pair remains subdued for the second day in a row, trading around 0.5960 during European hours on Monday. Daily chart analysis highlights a forceful bearish bias as the pair remains in a descending channel formation.
The 14-day relative strength index (RSI), a key momentum indicator, remains below the 50 level, indicating continued bearish momentum. A further decline towards the 30 level would intensify this downtrend for the NZD/USD pair.
Additionally, the nine-day exponential moving average (EMA) remains below the 14-day EMA, signaling continued weakening in the short-term price momentum of the NZD/USD pair.
On the other hand, the NZD/USD pair may move in the region around the psychological level of 0.5900, which will be followed by the lower boundary of the descending channel at 0.5880. A break below the descending channel could strengthen the bearish sentiment and push the pair to revisit the 0.5850 support level.
In terms of resistance, the NZD/USD pair finds an immediate barrier at the upper boundary of the descending channel with the nine-day EMA at 0.5980 followed by the 14-day EMA at 0.5994.
A break above the 14-day EMA would improve price momentum and support the NZD/USD pair in exploring the area around the psychological level of 0.6100.
NZD/USD: Daily chart
New Zealand dollar PRICE today
The table below shows the current percentage change of the New Zealand Dollar (NZD) against the major listed currencies. The New Zealand dollar was the weakest against the US dollar.
| USD | EUR | GBP | JPY | BOOR | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.30% | 0.17% | 0.72% | 0.20% | 0.00% | -0.08% | 0.32% | |
| EUR | -0.30% | -0.16% | 0.53% | 0.00% | -0.20% | -0.28% | 0.10% | |
| GBP | -0.17% | 0.16% | 0.60% | 0.17% | -0.04% | -0.12% | 0.26% | |
| JPY | -0.72% | -0.53% | -0.60% | -0.52% | -0.80% | -0.70% | -0.40% | |
| BOOR | -0.20% | -0.01% | -0.17% | 0.52% | -0.14% | -0.29% | 0.09% | |
| AUD | -0.01% | 0.20% | 0.04% | 0.80% | 0.14% | -0.11% | 0.29% | |
| NZD | 0.08% | 0.28% | 0.12% | 0.70% | 0.29% | 0.11% | 0.38% | |
| CHF | -0.32% | -0.10% | -0.26% | 0.40% | -0.09% | -0.29% | -0.38% |
The heat map shows the percentage changes of the major currencies relative to each other. The base currency is selected from the left column and the quote currency from the top row. For example, if you select the New Zealand dollar from the left column and move along the horizontal line to the US dollar, the percentage change displayed in the box will represent NZD (base)/USD (quote).
