- The NZD/USD was seen around the 0.5730 area, registering modest daily losses before the Asian session.
- The torque is testing a key confluence of the mobile socks of 20 and 100 days, with down risks emerging below this area.
During Friday’s session before the Asian opening, the NZD/USD decreased modestly and was last seen around the 0.5730 area. The PAR is still under pressure after sellers intervened earlier in the day, with the price action now focused on the convergence of simple mobile means of 20 days and 100 days, a key technical point for the short -term perspective.
The relative force index (RSI) has fallen abruptly but still remains in the positive region, just around the 50 mark, which suggests that the bullish impulse is fading. The indicator of convergence/divergence of mobile socks (MACD) remains above zero, but its histogram is printing smaller green bars, reflecting a weakened bullish pressure.
Technically, a clear rupture below the support area of 0.5730, where the 20 -day and 100 days SMA intersect, could expose to the torque to a deeper setback towards 0.5680 and then to the 0.5620 area. On the other hand, if buyers manage to defend this support group, the recovery attempts could be aimed at resistance around 0.5780 and 0.5820 below.
NZD/USD DIARY GRAPH
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
