NZD/USD Price Forecast: Tests barrier at nine-day EMA near 0.6200

NZD/USD could encounter immediate resistance around the nine-day EMA at the 0.6203 level.
The 14-day RSI remains above the 50 level, confirming the overall bullish trend.
The immediate support appears around the 14-day EMA at 0.6180 level, aligned with the lower boundary.

Akhtar Faruqui FXStreet

NZD/USD holds its position around 0.6200 during the European hours on Thursday. On the daily chart, the pair is trekking above the lower boundary of the ascending channel, supporting a bullish bias. A break below the lower boundary would weaken the bullish bias.

The 14-day Relative Strength Index (RSI) remains above the 50 level, confirming the overall bullish trend. Additionally, the nine-day Exponential Moving Average (EMA) is positioned above the 14-day EMA, signaling that the NZD/USD pair is experiencing short-term upward momentum and is likely to continue rising.

On the upside, the NZD/USD pair may encounter immediate resistance around the nine-day EMA at the 0.6203 level, followed by the seven-month high of 0.6247, recorded on August 21. A break above this level could lead the pair to test the upper boundary of the ascending channel at 0.6330.

In terms of support, the NZD/USD pair may find immediate support at the 14-day EMA at 0.6180 level, aligned with the lower boundary of the ascending channel around the 0.6170 level. A break below this level could weaken the bullish bias and lead the pair to navigate the area around the psychological level of 0.6100.

NZD/USD: Daily Chart

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 Japanese Yen.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		0.00%	0.04%	-0.06%	0.04%	0.12%	0.03%	0.06%
EUR	-0.01%		0.05%	-0.06%	0.06%	0.12%	0.06%	0.05%
GBP	-0.04%	-0.05%		-0.11%	0.03%	0.07%	0.02%	0.00%
JPY	0.06%	0.06%	0.11%		0.11%	0.18%	0.10%	0.14%
CAD	-0.04%	-0.06%	-0.03%	-0.11%		0.08%	0.00%	0.00%
AUD	-0.12%	-0.12%	-0.07%	-0.18%	-0.08%		-0.07%	-0.06%
NZD	-0.03%	-0.06%	-0.02%	-0.10%	0.00%	0.07%		0.00%
CHF	-0.06%	-0.05%	-0.01%	-0.14%	-0.01%	0.06%	-0.01%

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.

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