NZD/USD Price Analysis: Bulls take control as momentum shifts higher

NZD/USD surged ahead of the Asian session, reclaiming ground near the 0.5720 zone after strong buying interest.
The pair climbed above its 20-day SMA, signaling a potential shift in momentum as the RSI moved into positive territory.

Patricio Martín FXStreet

NZD/USD extended its advance on Wednesday, rallying sharply and positioning itself above a key technical level. The pair was last seen trading near the 0.5720 region ahead of the Asian session, posting strong gains as buyers regained control. After a prolonged period of selling, momentum appears to be shifting, as technical indicators suggest a more constructive outlook.

The Relative Strength Index (RSI) has moved into positive territory, reflecting increasing bullish momentum, while the Moving Average Convergence Divergence (MACD) remains in negative territory but prints flat red bars, signaling a slowdown in bearish pressure. More importantly, the pair has successfully risen above its 20-day Simple Moving Average (SMA), a key level that had previously acted as resistance.

Looking ahead, immediate resistance lies around the 0.5750 zone, with a break above this level potentially opening the door for further upside toward 0.5800. On the downside, the 20-day SMA, now acting as support near 0.5680, will be crucial. If buyers manage to keep the pair above this threshold, the bullish outlook could remain intact.

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 stays defensive near 1.3450, US NFP eyed

GBP/USD remains defensive around 1.3450 in the European session on Friday, undermined by a broadly resilient US Dollar. The Middle East uncertainty is back in play, keeping the haven demand for the Greenback intact ahead of the all-important US Nonfarm Payrolls (NFP) data release.

EUR/USD holds above 1.1500 ahead of US NFP

EUR/USD keeps its range above 1.1500 in European trading on Friday, as the US Dollar consolidates the recent recovery, following renewed tensions in the Middle East and on the Strait of Hormuz reopening. Traders now eagerly await the July US Nonfarm Payrolls (NFP) report for a clear directional impetus.

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.

Shiba Inu Price Forecast: SHIB risks over 10% drawdown amid declining burn rate

Shiba Inu edges lower, facing downside pressure amid broader risk-off sentiment in the cryptocurrency market, including a delay in the CLARITY Act vote. The declining burn rate of SHIB tokens and retail support warn of deeper losses in the meme coin.

US Nonfarm Payrolls expected to rise by 80K in July

The United States Bureau of Labor Statistics is set to release the Nonfarm Payrolls data for July on Friday at 12:30 GMT. Investors expect NFP to rise by 80K following June’s disappointing print of 57K. The Unemployment Rate is seen holding steady at 4.2%, while the annual wage inflation, as measured by the change in the Average Hourly Earnings, is projected to remain unchanged at 3.5%.

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.