- NZD/USD could test the lower boundary of the ascending channel around the level of 0.6160.
- The nine-day EMA is above the 50-day EMA, indicating that the short-term bullish momentum is likely to continue.
- A break above the nine-day EMA at 0.6201 level leads the pair to revisit a seven-month high of 0.6247.
NZD/USD is extending losses, trading around 0.6180 during European hours on Wednesday. On the daily chart, the pair is positioned within the ascending channel, supporting a bullish bias.
Moreover, the 14-day Relative Strength Index (RSI) is holding above the 50 level, confirming the overall bullish trend. However, if the RSI breaks the 50 mark, it could signal a possible shift in momentum from a bullish to a bearish trend.
The nine-day exponential moving average (EMA) is positioned above the 50-day EMA, signaling that the NZD/USD pair is experiencing bullish momentum in the short term and is likely to continue rising.
On the upside, the NZD/USD pair may find immediate resistance around the nine-day EMA at the level of 0.6201, followed by the seven-month high of 0.6247, recorded on August 21. A break above this level could lead the pair to test the upper boundary of the ascending channel at 0.6320.
In terms of support, the NZD/USD pair could test the lower boundary of the ascending channel around the level of 0.6160. A break below this level could weaken the bullish bias and lead the pair to approach the area around the 50-day EMA at 0.6099.
NZD/USD: Daily Chart
New Zealand Dollar PRICE Today
The table below shows the exchange rate of the New Zealand Dollar (NZD) against major currencies today. The New Zealand Dollar was the weakest currency against the Swiss Franc.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.09% | -0.07% | -0.19% | 0.07% | 0.11% | 0.10% | -0.19% | |
| EUR | 0.09% | 0.04% | -0.11% | 0.18% | 0.20% | 0.22% | -0.11% | |
| GBP | 0.07% | -0.04% | -0.13% | 0.14% | 0.16% | 0.19% | -0.14% | |
| JPY | 0.19% | 0.11% | 0.13% | 0.26% | 0.29% | 0.29% | -0.01% | |
| CAD | -0.07% | -0.18% | -0.14% | -0.26% | 0.02% | 0.05% | -0.28% | |
| AUD | -0.11% | -0.20% | -0.16% | -0.29% | -0.02% | 0.02% | -0.29% | |
| NZD | -0.10% | -0.22% | -0.19% | -0.29% | -0.05% | -0.02% | -0.32% | |
| CHF | 0.19% | 0.11% | 0.14% | 0.00% | 0.28% | 0.29% | 0.32% |
The heatmap shows percentage changes of major currencies. The base currency is selected from the left column, while the quote currency is selected from the top row. For example, if you choose the New Zealand Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change shown in the chart will represent the NZD (base)/USD (quote).
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.
