NZD/USD Price Forecast: SMA cluster wobbles as US yields bite
- NZD/USD trades below the SMA cluster as consolidation deepens.
- Bearish RSI points to downside while trendline support nears.
- Break below 0.5800 exposes 0.5761 and 0.5700 next.
The New Zealand Dollar (NZD) extends its losses against the US Dollar (USD), down 0.30% on Wednesday as the Greenback gets underpinned by rising US Treasury yields, with the 10-year reaching its highest level since 2023. The NZD/USD pair trades at 0.5835.
NZD/USD Price Forecast: Technical Outlook
Price action shows the NZD/USD pair is poised to consolidate further, within familiar levels, with the exchange rate seesawing around the confluence of the 50-, 100- and 200-day Simple Moving Averages (SMAs), each at around 0.5848. 0.5843 and 0.5854, respectively.
However, from a momentum standpoint, further downside is seen as the Relative Strength Index (RSI) turned bearish.
On the downside, NZD/USD's first line of defense is a support trendline passing through around 0.5810-0.5820. Once cleared, the 0.5800 figure emerges as the next support level. A breach of the latter, and of NZD/USD, could extend its losses towards the July 29 swing low of 0.5761, before printing a leg lower to the 0.5700 mark.
Meanwhile, for a bullish reversal, NZD/USD must climb above the SMA confluence. Once done, the next resistance is the September 4 high of the day (HOD) at 0.5903. Up next lies the psychological 0.5950 and 0.6000.
NZD/USD Price Chart – Daily
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 strongest against the Canadian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.05% | -0.03% | -0.25% | 0.18% | 0.00% | 0.26% | 0.10% | |
| EUR | 0.05% | 0.05% | -0.20% | 0.23% | 0.05% | 0.33% | 0.16% | |
| GBP | 0.03% | -0.05% | -0.21% | 0.21% | 0.04% | 0.30% | 0.15% | |
| JPY | 0.25% | 0.20% | 0.21% | 0.43% | 0.24% | 0.50% | 0.35% | |
| CAD | -0.18% | -0.23% | -0.21% | -0.43% | -0.18% | 0.09% | -0.07% | |
| AUD | -0.00% | -0.05% | -0.04% | -0.24% | 0.18% | 0.27% | 0.12% | |
| NZD | -0.26% | -0.33% | -0.30% | -0.50% | -0.09% | -0.27% | -0.18% | |
| CHF | -0.10% | -0.16% | -0.15% | -0.35% | 0.07% | -0.12% | 0.18% |
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
Christian Borjon Valencia
FXStreet
Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.
