NZD/USD Price Analysis: Bears continue their reign sinking further to May lows

NZD/USD deepens losses, slipping near the 0.5900 mark, marking a consistent bearish trend since last week.
The pair lost almost 2.5% in the last five trading sessions.

Patricio Martín FXStreet

In Wednesday's session, the NZD/USD extended its downward trajectory, decreasing by 0.55% and stabilizing at around 0.5925. The unceasing advance of the bears led to a further decline below the 0.5900 level, plummeting to the May lows around 0.5880 earlier in the session. This establishes a firm bearish sentiment surrounding the currency pair, with a five-day losing stream underlining this trend.

The daily technical indicators fortify this deteriorating trend. The Relative Strength Index (RSI) is now well within the oversold territory at 27. Concurrently, the Moving Average Convergence Divergence (MACD) shows rising red bars, further underlining the bearish sentiment. However, as RSI nears a highly oversold state, there might be potential for a correction looming on the horizon.

NZD/USD daily chart

From a daily perspective, robust support is currently detected at the 0.5900 line, and further below that, at the May lows around 0.5880. Conversely, resistance is still seen at the former support level of 0.6000, followed by 0.6050.

Author

Patricio Martín

FXStreet

Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.

EUR/USD holds gains around 1.1800 amid renewed USD selling

EUR/USD regains positive traction and holds around 1.1800 in the European session, reversing the previous day's modest losses. The pair's uptick is sponsored by the emergence of fresh US Dollar selling, which remains induced by persistent trade-related uncertainties.

GBP/USD strengthens above 1.3500 on softer US Dollar

GBP/USD is posting moderate gains above 1.3500 in European trading on Wednesday. The pair appreciates as the US Dollar meets fresh supply following US President Donald Trump’s first State of the Union address and amid looming tariff uncertainty.

Gold eyes monthly top above $5,200 amid geopolitics, trade jitters

Gold buyers are back in the game, eyeing $5,200 and beyonf on Wednesday after seeing a correction from monthly highs on Tuesday. The US Dollar slips after Trump’s SOTU fails to impress and as AI-driven worries ease. Dovish Fed bets also weigh. Gold looks north so long as the key 61.8% Fibo resistance at $5,142 holds on the daily chart.

Bitcoin, Ethereum and Ripple post cautious recovery amid downside risks

Bitcoin, Ethereum, and Ripple are posting a cautious recovery on Wednesday following a market correction earlier this week. BTC is approaching a key breakdown level, while ETH and XRP are rebounding from crucial support levels.

Nvidia remains at the heart of the AI boom

Nvidia remains at the heart of the AI boom, with Q4 revenue projected near $65.6–66.1 billion, nearly 70% higher year-over-year. But investors are watching cash flow, leverage, and broader AI adoption. Growth is strong, but the AI stress isn’t over.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.