NZD/USD Price Forecast: Slips below 0.5800 toward two-month lows
- NZD/USD may find initial support near the two-month low at 0.5762.
- The 14-day Relative Strength Index near 39 signals ongoing selling pressure.
- Immediate resistance stands at the nine-day EMA around 0.5832.
NZD/USD extends its losing streak for the third successive day, trading around 0.5780 during the European hours on Thursday. The technical analysis of the daily chart signals a bearish bias as the pair is consolidating within a descending channel pattern.
Additionally, the NZD/USD pair holds a mild bearish bias as price remains capped below the nine-day Exponential Moving Average (EMA), reinforcing downside pressure. The 50-day EMA flattens and has failed to attract follow-through buying, underscoring fading bullish momentum. The 14-day Relative Strength Index (RSI) near 39 stays below the 50 midline, confirming persistent selling pressure rather than oversold exhaustion.
The NZD/USD pair may find its initial support at the two-month low of 0.5762, recorded on March 23. A break below this level would put downward pressure on the pair to test the lower boundary of the descending channel around 0.5660.
On the upside, the immediate barrier lies at the nine-day EMA of 0.5832, followed by the upper descending channel boundary around 0.5860 and the medium-term average at 0.5885. Further advances above this confluence resistance zone would cause the emergence of the bullish bias and lead the NZD/USD pair to explore the region around the monthly high of 0.5996, reached on March 2.
(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 Euro.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.00% | 0.11% | 0.02% | 0.17% | 0.13% | 0.35% | 0.04% | |
| EUR | 0.00% | 0.12% | -0.02% | 0.17% | 0.15% | 0.35% | 0.04% | |
| GBP | -0.11% | -0.12% | -0.13% | 0.05% | 0.02% | 0.23% | -0.08% | |
| JPY | -0.02% | 0.02% | 0.13% | 0.16% | 0.13% | 0.32% | 0.03% | |
| CAD | -0.17% | -0.17% | -0.05% | -0.16% | -0.03% | 0.17% | -0.13% | |
| AUD | -0.13% | -0.15% | -0.02% | -0.13% | 0.03% | 0.21% | -0.09% | |
| NZD | -0.35% | -0.35% | -0.23% | -0.32% | -0.17% | -0.21% | -0.31% | |
| CHF | -0.04% | -0.04% | 0.08% | -0.03% | 0.13% | 0.09% | 0.31% |
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.
