NZD/USD Price Analysis: brief pullback questions 20-day SMA support

Source Fxstreet
  • NZD/USD fell at the end of the weekresting around 0.5590 after struggling to sustain previous gains.
  • RSI plunges to 40 in negative territory, pointing to weakening momentum as sellers regain confidence.
  • MACD histogram shows rising green bars, hinting that not all bullish interest has faded despite the drop.

The NZD/USD pair lost ground on Friday, sliding 0.30% to settle near 0.5590. This downturn casts doubt on the sustainability of the pair’s recent consolidation above its 20-day Simple Moving Average (SMA), a region that might still offer a line of defense for buyers hoping to maintain upward traction. With sellers beginning to chip away at gains seen earlier in the week, it remains uncertain whether the pair can cling to its fragile support zone.

From a technical perspective, momentum readings are mixed. The Relative Strength Index (RSI) has retreated sharply to 40, underscoring a renewed bout of bearish pressure. Meanwhile, the Moving Average Convergence Divergence (MACD) histogram continues to produce green bars, suggesting that some underlying bullish sentiment persists but in a less confident manner. These conflicting signals underscore the delicate nature of the current price action.

Should NZD/USD consolidate effectively near the 20-day SMA, now around the 0.5600 mark, buyers may attempt another push higher, with 0.5630 serving as an interim hurdle before a potential run at 0.5650. Conversely, a decisive breach below 0.5580 would likely hand control back to the bears, exposing lower targets near the 0.5550 region and undermining the pair’s nascent support base.

NZD/USD daily chart

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Ethereum (ETH) Price Closes Above $3,900 — Is a New All-Time High Possible Before 2024 Ends?Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
Author  Beincrypto
Dec 17, 2024
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
placeholder
Gold Price Forecast: XAU/USD gains momentum to near $3,650, eyes on US CPI releaseThe Gold price (XAU/USD) gains momentum to near $3,645 during the early Asian session on Thursday.
Author  FXStreet
Sep 11, Thu
The Gold price (XAU/USD) gains momentum to near $3,645 during the early Asian session on Thursday.
placeholder
What to expect from Ethereum in October 2025With broader sentiment worsening, user demand falling across the Ethereum network, and institutional investors pulling back, the coin faces mounting headwinds in October.
Author  Beincrypto
Sep 30, Tue
With broader sentiment worsening, user demand falling across the Ethereum network, and institutional investors pulling back, the coin faces mounting headwinds in October.
placeholder
Why the Altcoin Market Cap Decline May Deepen in OctoberThe crypto market has been turbulent in October, with altcoin market capitalization dropping another 15%. Could this downturn worsen before October ends?
Author  Beincrypto
Oct 20, Mon
The crypto market has been turbulent in October, with altcoin market capitalization dropping another 15%. Could this downturn worsen before October ends?
placeholder
Bitcoin could see a sharp drop below $100,000 by weekend: Standard CharteredBitcoin (BTC) declined toward $107,000 on Wednesday, as Standard Chartered's Geoffrey Kendrick predicted an "inevitable" drop below $100,000.
Author  FXStreet
8 hours ago
Bitcoin (BTC) declined toward $107,000 on Wednesday, as Standard Chartered's Geoffrey Kendrick predicted an "inevitable" drop below $100,000.
Related Instrument
goTop
quote