NZD/USD Price Analysis: Bulls struggle to halt losing streak, hits lows in over a year

NZD/USD staged minor losses on Monday and traded near 0.5850.
Bulls struggle to halt losing streak, having tallied a four-day decline and reaching its lowest levels since November 2023.
With oscillating signals from indicators, the NZD/USD may experience sideways trading in the near term.

Patricio Martín FXStreet

The NZD/USD continued losing on Monday, to fall near 0.5850. Bulls struggle to halt the losing streak, now at lows since November 2023 but sellers might start to ran out of steam.

The pair's daily Relative Strength Index (RSI) is in the negative territory with a value of 37, indicating a strong selling pressure but its rising while the Moving Average Convergence Divergence (MACD) is flat and in red, reinforcing the bearish sentiment.

Despite the oscillating signals from the RSI and MACD, the overall momentum remains bearish. The pair is currently trading sideways within a range, with indicators emitting mixed signals. While the strong selling momentum may be waning, sellers still maintain the upper hand. Traders should monitor any break below the 0.5830 area which coil make the pair plunge towards 0.5800, while a break towards 0.5900 could be the trigger of a short-term recovery.

NZD/USD daily chart

Author

Patricio Martín

FXStreet

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

GBP/USD clings to multi-day peaks below 1.3500

GBP/USD trades with marked gains on Friday, now giving away some gains following an earlier surpass of the key 1.3500 yardstick. Indeed, Cable gathers fresh steam amid the strong offered stance in the Greenback, all after US NFP badly missed expectations in July.

EUR/USD: Post-NFP bounce falters around 1.1580

EUR/USD reverses Thursday’s decline and trades with solid gains in the 1.1560 region, or two-month peaks, on Friday. The pair’s firm performance comes in a context of a sharp correction in the US Dollar as investors continue to assess disheartening US NFP readings.

How Wall Street rigs the game [Video]

In this week’s Live from the Vault, Andrew Maguire is joined by Peter Antico and Sean Stone to discuss the Paradigm of Money - an in-depth expose of financial market corruption, from naked shorting to the two-tier system that protects Wall Street.

XRP Price Forecast: XRP nears critical $1.00 support

Ripple (XRP) remains pressured on Friday, trading around $1.03 at the time of writing. The token appears to hold this current level as support but lacks a catalyst to sustain a knee-jerk rebound toward the next key resistance at $1.10.

Is Gold about to enter its biggest bull run since 2020?

Gold has stormed back into the spotlight and its next move could leave late buyers chasing. On August 5, the yellow metal surged almost 7% – roughly $174 – to close near $4,308 an ounce, posting one of its biggest daily advances in recent history. A weaker U.S dollar, falling Treasury yields, changing Federal Reserve expectations and renewed safe-haven demand all struck at once.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.