NZD/USD Price Forecast: Holds position above nine-day EMA near 0.6200

Source Fxstreet
  • NZD/USD may appreciate as daily chart analysis indicates a bullish bias.
  • The upper boundary of the ascending channel at 0.6280 appears as the immediate resistance.
  • The pair may find the support around the nine-day EMA at 0.6189 level.

NZD/USD trades around 0.6210 during the Asian session on Thursday. On the daily chart, the pair is consolidating within an ascending channel pattern, indicating a bullish bias. However, a break below the lower boundary of the channel could diminish this bullish sentiment.

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

On the upside, the NZD/USD pair may test the upper boundary of the ascending channel at the 0.6280 level, followed by the eight-month high of 0.6302 recorded on September 3. A break above this high could drive the pair toward the psychological level of 0.6300.

On the downside, the NZD/USD pair might test immediate support around the nine-day EMA at the 0.6189 level, which is near the lower boundary of the ascending channel. A break below this channel could weaken the bullish sentiment and put pressure on the pair to approach the 50-day EMA at 0.6128.

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 strongest against the Japanese Yen.

  USD EUR GBP JPY CAD AUD NZD CHF
USD   0.01% 0.07% 0.63% -0.02% -0.34% 0.07% 0.32%
EUR -0.01%   0.05% 0.62% -0.03% -0.34% 0.05% 0.31%
GBP -0.07% -0.05%   0.57% -0.09% -0.42% -0.00% 0.24%
JPY -0.63% -0.62% -0.57%   -0.62% -0.96% -0.59% -0.32%
CAD 0.02% 0.03% 0.09% 0.62%   -0.33% 0.09% 0.33%
AUD 0.34% 0.34% 0.42% 0.96% 0.33%   0.41% 0.65%
NZD -0.07% -0.05% 0.00% 0.59% -0.09% -0.41%   0.26%
CHF -0.32% -0.31% -0.24% 0.32% -0.33% -0.65% -0.26%  

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).

Disclaimer: For information purposes only. Past performance is not indicative of future results.
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