NZD/USD Price Forecast: Remains below moving averages near 0.5900 as bearish bias prevails
- NZD/USD may navigate the region around initial support at the lower boundary of the descending channel around 0.5810.
- The 14-day Relative Strength Index around 48 signals fading upside momentum without reaching outright oversold conditions.
- The immediate barrier lies at the 50- and nine-day EMAs of 0.5879 and 0.5882, respectively.
NZD/USD moves little after registering modest gains in the previous day, trading around 0.5870 during the European hours on Thursday. The technical analysis of the daily chart signals an ongoing bearish bias as the pair remains within the descending channel pattern.
The NZD/USD pair is holding a mild bearish bias as it sits just under the nine- and 50-day Exponential Moving Averages (EMAs). The pair has slipped back below these short- and medium-term trend gauges, suggesting rallies are likely to face supply near the moving average cluster, while the 14-day Relative Strength Index (RSI) around 48 hints at fading upside momentum but not outright oversold conditions.
On the downside, the NZD/USD pair may fall toward the lower boundary of the descending channel around 0.5810, followed by the six-week low of 0.5794, recorded on April 13. A break below this confluence support zone would put downward pressure on the pair to navigate the region around a nearly six-month low of 0.5681, which was recorded on April 6.
The NZD/USD pair may retest the immediate barrier at the 50-day EMA of 0.5879, aligned with the nine-day EMA at 0.5882. A sustained break above these moving averages could support the pair to test the upper boundary of 0.5940, followed by the three-month high of 0.6014, which was reached on February 26.
(The technical analysis of this story was written with the help of an AI tool.)
New Zealand Dollar Price Today
The table below shows the percentage change of New Zealand Dollar (NZD) against listed major currencies today. New Zealand Dollar was the weakest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.00% | 0.00% | 0.03% | 0.18% | 0.27% | 0.09% | -0.00% | |
| EUR | -0.01% | 0.00% | 0.02% | 0.15% | 0.25% | 0.04% | -0.02% | |
| GBP | -0.01% | 0.00% | 0.02% | 0.15% | 0.28% | 0.08% | -0.01% | |
| JPY | -0.03% | -0.02% | -0.02% | 0.12% | 0.25% | -0.02% | -0.04% | |
| CAD | -0.18% | -0.15% | -0.15% | -0.12% | 0.13% | -0.09% | -0.18% | |
| AUD | -0.27% | -0.25% | -0.28% | -0.25% | -0.13% | -0.21% | -0.31% | |
| NZD | -0.09% | -0.04% | -0.08% | 0.02% | 0.09% | 0.21% | -0.09% | |
| CHF | 0.00% | 0.02% | 0.01% | 0.04% | 0.18% | 0.31% | 0.09% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the New Zealand Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent NZD (base)/USD (quote).
Author
Akhtar Faruqui
FXStreet
Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.
