NZD/USD Price Analysis: Remains vulnerable below 50-day SMA pivotal support

NZD/USD continued losing ground further below 50-day SMA on Monday.
The set-up supports prospects for additional weakness to the 0.60 mark.

Haresh Menghani FXStreet

The NZD/USD pair edged lower for the third consecutive session and extended last week's rejection slide from a resistance marked by the top end of over a one-month-old ascending channel.

The downward momentum has now dragged the pair back below 50-day, with bears now looking to extend the slide further towards the key 0.60 psychological mark amid a broad-based USD strength.

The mentioned level marks the descending channel support, which if broken might suggest that the recent strong recovery move from near 11-year lows might have already run out of the steam.

Meanwhile, technical indicators on the daily chart have been struggling to gain any meaningful traction and have again started drifting lower in the bearish territory on hourly charts.

The near-term technical set-up seems tilted in favour of bearish traders and supports prospects for a further decline, albeit bears are likely to wait for a sustained break below the 0.60 mark.

On the flip side, the 50-day SMA, around the 0.6055 region, now seems to act as immediate support, above which the pair is likely to make a fresh attempt towards reclaiming the 0.6100 mark.

NZD/USD daily chart

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

EUR/USD stays below 1.1800 as markets await Fed speeches

EUR/USD remains trapped in a tight range below 1.1800 in the second half of the day on Tuesday. The pair struggles amid a modest US Dollar strength and an improvement in risk sentiment, even as US tariff uncertainty lingers. The focus now remains on comments from Federal Reserve officials.

GBP/USD stays defensive below 1.3500 as USD firms up

GBP/USD stays on the back foot below 1.3500 in the European trading hours on Tuesday. The pair declines as the US Dollar rebounds from losses recorded over the previous two sessions. Traders will focus on the US weekly ADP Employment Change and Consumer Confidence data due later in the day, along with speeches from Federal Reserve officials.

Gold retreats below $5,200 on renewed USD strength

Gold stages a deep correction following Monday's rally and trades below $5,200. Following the previous day's knee-jerk fall in reaction to US President Donald Trump's new global tariffs and the subsequent bounce, the US Dollar gathers strength and weighs on XAU/USD ahead of Fed policymakers' speeches.

Crypto Today: Bitcoin, Ethereum, XRP come under renewed pressure amid ETF outflows, tariff uncertainty

Bitcoin, Ethereum and Ripple are trading under increasing selling pressure at the time of writing on Tuesday, as market participants navigate renewed tariff uncertainty. The Crypto King holds above $63,000, down 2% intraday from its $64,656 open.

AI-scare trade and tariff uncertainty takes hold

It was quite a day, with AI-disruption fears and tariff uncertainty triggering a risk-off session. By now, it's nearly impossible to have missed the Supreme Court's 6-3 decision that struck down US President Donald Trump's reciprocal tariffs last Friday.

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.