Created
: 2025.04.01
2025.04.01 06:36
NZD/USD extended its decline on Monday's session ahead of the Asian open, slipping to the mid-0.5600s and pressing into the lower half of the recent range. The pair remains under pressure as technical indicators flash bearish cues, with sellers gaining the upper hand after a failed attempt to consolidate around the 0.5730 zone.
The Moving Average Convergence Divergence (MACD) signals a fresh sell bias, while the Relative Strength Index (14) prints at 42.7 is gradually moving lower. The Awesome Oscillator echoes a similar neutral tone, suggesting a lack of bullish conviction in the short term.
From a trend perspective, selling pressure is confirmed by key moving averages. The 20-day Simple Moving Average (SMA) at 0.57347, 100-day SMA at 0.57269, and the longer-term 200-day SMA at 0.59120 all slope downward, reinforcing a bearish structure. Additional short-term signals from the 10-day EMA at 0.57267 and 10-day SMA at 0.57449 also support the downside outlook.
On the downside, the next line of support may emerge below 0.5670, with previous swing lows and psychological barriers likely to be tested. Resistance remains capped near 0.5700, followed by 0.57050 and 0.57084. A break above these could ease short-term pressure, but the broader structure remains tilted to the downside unless buyers reclaim ground above the 20 and 100-day SMAs.
Created
: 2025.04.01
Last updated
: 2025.04.01
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.
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].
Disclaimer:
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