Created
: 2024.11.07
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
NZD/USD Price Analysis: Bearish signals emerge as pair plunged after 20-day SMA rejection
World FX news
Breaking news
NZD/USD Price Analysis: Bearish signals emerge as pair plunged after 20-day SMA rejection
New
2024.11.07 06:19
2024.11.07 06:19
2024.11.07 06:19
- NZD/USD drops to fresh lows, technical bias bearish
- RSI below 35, MACD histogram rising red, indicating selling pressure
- Pair fell back to lows since August.
On Wednesday, the NZD/USD pair declined sharply by 1% to 0.5945, reflecting the strengthening US dollar across the board. This weakness suggests a shift in sentiment, as the New Zealand dollar has been unable to regain the key 20-day Simple Moving Average (SMA) and fell back to lows since August.
The technical outlook for NZD/USD remains bearish, as indicated by the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators. The RSI has remains deep in negative territory, reaching 35, and is declining sharply, suggesting that selling pressure is rising. The histogram of the MACD is red and rising, another sign of increasing selling pressure.
A break below 0.5950 could open the door to a test of 0.5900 and even 0.5850. On the other hand, a breakout above 0.6000 could pave the way for a move towards 0.6050 and 0.6100.
NZD/USD daily chart
Last updated
: 2024.11.07
Related articles
NZD/USD weakens below 0.5950 on stronger US Dollar, eyes on Fed rate decision
22 minutes agoEUR/USD falls apart on Wednesday in post-election Greenback rush
2024.11.07 08:17RBA's Bullock: Too early to judge US election, tariff implications
2024.11.07 08:15USD/CAD extends upside to near 1.3950, Fed rate decision in focus
2024.11.07 08:08GBP/USD backslides in broad-market Greenback rally
2024.11.07 08:02NZD/JPY Price Analysis: Buyers increase their efforts and approach 92.00
2024.11.07 06:38
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
NZD/USD weakens below 0.5950 on stronger US Dollar, eyes on Fed rate decision
The NZD/USD pair softens to around 0.5940 during the early Asian trading hours on Thursday.
New
2024.11.07 09:16EUR/USD falls apart on Wednesday in post-election Greenback rush
EUR/USD plummeted during the midweek market session, falling over 1.75% into the red and tumbling back below 1.0750 for the first time since July.
New
2024.11.07 08:17RBA's Bullock: Too early to judge US election, tariff implications
Reserve Bank of Australia Governor Michele Bullock said on Thursday that it's premature to assess the impact of the US presidential election outcome and tariff implications.
New
2024.11.07 08:15USD/CAD extends upside to near 1.3950, Fed rate decision in focus
The USD/CAD pair extends the rally to near 1.3940 during the early Asian session on Thursday.
New
2024.11.07 08:08GBP/USD backslides in broad-market Greenback rally
GBP/USD tumbled back below the 1.2900 handle on Wednesday as markets splurged on Greenback bids following the one-sided outcome of the US presidential election.
New
2024.11.07 08:02Silver Price Forecast: XAG/USD plummets as Trump's election strengthens USD
Silver price slumped sharply on Wednesday after US President Donald Trump wins the 2024 presidential election.
New
2024.11.07 06:55NZD/JPY Price Analysis: Buyers increase their efforts and approach 92.00
In Wednesday's session, the NZD/JPY underwent upward fluctuations, gaining 0.96% to reach 91.80 and regaining key levels.
New
2024.11.07 06:38Canadian Dollar retests familiar lows as markets pile into post-election push
The Canadian Dollar (CAD) snapped a recovery against the Greenback on Wednesday, slipping back into familiar multi-year low territory after markets piled back into the USD following the US presidential election, where presidential candidate Donald Trump is the clear frontrunner.
New
2024.11.07 06:25NZD/USD Price Analysis: Bearish signals emerge as pair plunged after 20-day SMA rejection
On Wednesday, the NZD/USD pair declined sharply by 1% to 0.5945, reflecting the strengthening US dollar across the board.
New
2024.11.07 06:18Gold plummets to three-week low below $2,700 as Trump's victory boosts USD
Gold plunged to a three-week low below $2700 a troy ounce on Wednesday after the 2024 US Presidential election.
New
2024.11.07 05:25Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
