- The NZD/USD could have as its objective its new seven months of 0.6055, marked on Tuesday.
- The 14 -day relative force index is positioned above the 50th mark, suggesting a persistent bullish bias.
- The 9 -day EMA of 0.5976 appears as the main support within the rectangular pattern.
The NZD/USD is recovering its recent losses, quoting around 0.5990 during the European hours on Tuesday. The technical analysis of the daily graphic suggests a rebirth of the feeling of neutral market, since the Kiwi torque is trying to fall back into a rectangular pattern.
However, the torque is depreciated despite a stronger short -term price impulse, positioning over an exponential (EMA) mobile average of 9 days. In addition, the bullish bias persists since the 14 -day relative force index (RSI) maintains its position above the 50th mark.
On the positive side, the NZD/USD torque could again have as its objective the new seven months of 0.6055, previously registered in the Asian session. A successful rupture above this key resistance zone could reinforce the bullish bias and open the doors so that the torque explores the region around eight months of 0.6350, marked in October 2024.
A return to the rectangular pattern could lead to the torque to test the 9 -day EMA of 0.5976, followed by the 50 -day EMA in 0.5891. A rupture below these levels could weaken the impulse of the price in the short and medium term and exert down the torque to test the lower limit of the rectangle around 0.5830.
A greater decrease below the rectangular pattern could cause the appearance of a bearish bias and pave the way for a deeper decrease towards 0.5485, a level not seen since March 2020.
NZD/USD: Daily graphic
New Zealander dollar today
The lower table shows the percentage of change of the New Zealand dollar (NZD) compared to the main coins today. New Zealand dollar was the weakest currency against the US dollar.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.29% | 0.24% | 0.06% | 0.12% | 0.58% | 0.56% | 0.18% | |
| EUR | -0.29% | -0.03% | -0.21% | -0.15% | 0.30% | 0.35% | -0.10% | |
| GBP | -0.24% | 0.03% | -0.19% | -0.12% | 0.34% | 0.38% | -0.07% | |
| JPY | -0.06% | 0.21% | 0.19% | 0.06% | 0.50% | 0.52% | 0.18% | |
| CAD | -0.12% | 0.15% | 0.12% | -0.06% | 0.41% | 0.51% | 0.05% | |
| Aud | -0.58% | -0.30% | -0.34% | -0.50% | -0.41% | 0.05% | -0.42% | |
| NZD | -0.56% | -0.35% | -0.38% | -0.52% | -0.51% | -0.05% | -0.45% | |
| CHF | -0.18% | 0.10% | 0.07% | -0.18% | -0.05% | 0.42% | 0.45% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the New Zealand dollar of the left column and move along the horizontal line to the US dollar, the percentage change shown in the box will represent the NZD (base)/USD (quotation).
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.
