NZD/USD Price Forecast: Bulls defend trendline above 0.5900
- NZD/USD holds above the rising trendline drawn from July lows.
- Bullish RSI supports upside as buyers defend the 0.5900 area.
- Break above 0.6000 exposes 0.6077 and yearly peak.
The NZD/USD pair is poised to finish Monday’s session virtually unchanged near its opening price, despite a modest 0.08% gain as the US Dollar (USD) weakens amid rising tensions in the Middle East. The pair trades above 0.5900.
NZD/USD Price Forecast: Technical Outlook
From a price action standpoint, NZD/USD remains upward-biased, with the pair sitting above an upslope support trendline drawn from the July lows, which it has tested three times. Worth noting that the pair is still above that trendline, an indication that buyers are stepping in once NZD/USD dives to that support level, which could open the door for further upside.
The Relative Strength Index (RSI) remains bullish, indicating further upside.
For a bullish continuation, NZD/USD must reclaim the 0.5950 area, then 0.6000. A decisive breakout could expose the February 12 high at 0.6077, followed by the yearly peak of 0.6094 ahead of 0.6100.
Downwards, the first support is the previously mentioned trendline near 0.5901, followed by 0.5850. Once hurdled, the next stop will be the confluence of the 100- and 200-day SMAs near 0.5847/45 ahead of the 50-day SMA at 0.5818 and 0.5800.
NZD/USD Price Chart – Daily
New Zealand Dollar Price Today
The table below shows the percentage change of New Zealand Dollar (NZD) against listed major currencies today. New Zealand Dollar was the strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.29% | -0.09% | -0.19% | -0.35% | -0.03% | -0.08% | -0.15% | |
| EUR | 0.29% | 0.17% | 0.09% | -0.06% | 0.22% | 0.23% | 0.13% | |
| GBP | 0.09% | -0.17% | -0.09% | -0.23% | 0.03% | 0.03% | -0.02% | |
| JPY | 0.19% | -0.09% | 0.09% | -0.16% | 0.17% | 0.15% | 0.07% | |
| CAD | 0.35% | 0.06% | 0.23% | 0.16% | 0.34% | 0.32% | 0.22% | |
| AUD | 0.03% | -0.22% | -0.03% | -0.17% | -0.34% | -0.01% | -0.06% | |
| NZD | 0.08% | -0.23% | -0.03% | -0.15% | -0.32% | 0.01% | -0.07% | |
| CHF | 0.15% | -0.13% | 0.02% | -0.07% | -0.22% | 0.06% | 0.07% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the New Zealand Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent NZD (base)/USD (quote).
Author
Christian Borjon Valencia
FXStreet
Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.
