- NZD/USD may regain ground as it is moving higher within an ascending channel pattern, indicating a bullish bias.
- The 14-day RSI is slightly below the 70 level, indicating possible bullish momentum, with consolidation potential.
- The upper boundary of the ascending channel at 0.6360 appears as the immediate resistance.
NZD/USD breaks its five-day winning streak, trading around 0.6330 during the European session on Wednesday. On the daily chart, the pair is moving higher within an ascending channel pattern, indicating a bullish bias.
Moreover, the 14-day Relative Strength Index (RSI) remains above the 50 level, confirming that the ongoing uptrend is intact. Although, the RSI is slightly below the 70 mark, suggesting that upside gains remain likely but could face consolidation soon.
On the upside, the NZD/USD pair is testing the upper boundary of the ascending channel at the level of 0.6360. A break above the upper boundary could strengthen the bullish bias and support the pair to explore the region around the psychological level of 0.6300.
In terms of support, the NZD/USD pair could test the nine-day exponential moving average (EMA) at the level of 0.6257, which is aligned with the lower boundary of the ascending channel. A break below the channel could weaken the bullish sentiment and put pressure on the pair to navigate the area around its five-week low of 0.6106.
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 Euro.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.08% | 0.22% | 0.50% | -0.01% | 0.17% | 0.32% | 0.26% | |
| EUR | 0.08% | 0.32% | 0.61% | 0.08% | 0.25% | 0.42% | 0.34% | |
| GBP | -0.22% | -0.32% | 0.27% | -0.24% | -0.07% | 0.06% | 0.03% | |
| JPY | -0.50% | -0.61% | -0.27% | -0.53% | -0.35% | -0.20% | -0.25% | |
| CAD | 0.01% | -0.08% | 0.24% | 0.53% | 0.18% | 0.34% | 0.28% | |
| AUD | -0.17% | -0.25% | 0.07% | 0.35% | -0.18% | 0.17% | 0.10% | |
| NZD | -0.32% | -0.42% | -0.06% | 0.20% | -0.34% | -0.17% | -0.07% | |
| CHF | -0.26% | -0.34% | -0.03% | 0.25% | -0.28% | -0.10% | 0.07% |
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.
