NZD/USD Price Analysis: Kiwi clings to 0.5730 zone as moving averages pressure builds
- NZD/USD was seen trading near the 0.5730 area after mild gains on Tuesday.
- The pair remains trapped under key moving averages, with limited momentum as buyers struggle for control.
- A break below the 0.5730 confluence may open room toward lower support zones.
The NZD/USD pair was seen trading around the 0.5730 zone following a mildly positive performance on Tuesday’s session ahead of Asia. Despite holding slightly in the green, the pair showed limited traction and continues to face resistance from a cluster of key technical levels, preventing a stronger upside move.
From a technical standpoint, the pair is locked in a battle with both the 20-day and 100-day Simple Moving Averages, which currently converge near 0.5730. The inability to decisively clear this area keeps the Kiwi in a delicate position, with a break below likely to tilt the short-term bias in favor of sellers. Momentum indicators remain mixed, with no strong directional signals emerging from the MACD or Relative Strength Index for now.
On the downside, a sustained move beneath the 0.5730 confluence zone could expose the pair to further declines, targeting supports around 0.5680 and 0.5650. On the flip side, if bulls regain control, resistance awaits near 0.5780, followed by a stronger ceiling around 0.5820, which would need to be breached to confirm a more meaningful bullish reversal.
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.
