NZD/USD Price Analysis: Reversal points to weekly losses as bears regain control

NZD/USD Price Forecast: Technical outlook

From a daily chart perspective, the pair trades sideways to downward biased after NZD/USD faced key resistance at 0.5994, with traders lacking the strength to reclaim the 0.60 handle. On its way south, the pair cleared the 50 and 100-day SMAs, each at 0.5952 and 0.5944, respectively, which turned key resistance levels at the time of writing.

The Relative Strength Index (RSI) turned bearish two days ago. This means that sellers are in charge in the near-term.

For a bearish continuation, the first support would be 0.5900. A breach of the latter will expose the August 5 low of 0.5881, before testing the current month’s low of 0.5856. Conversely, the pair could shift upwards if traders reclaim 0.5952 and the 0.6000 figure.

NZD/USD Price Chart – Daily

New Zealand Dollar PRICE This week

The table below shows the percentage change of New Zealand Dollar (NZD) against listed major currencies this week. New Zealand Dollar was the strongest against the Canadian Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.46%	-0.75%	-0.22%	0.45%	0.26%	0.60%	-0.27%
EUR	0.46%		-0.29%	0.24%	0.92%	0.73%	1.02%	0.20%
GBP	0.75%	0.29%		0.50%	1.21%	1.02%	1.31%	0.49%
JPY	0.22%	-0.24%	-0.50%		0.71%	0.53%	0.89%	0.10%
CAD	-0.45%	-0.92%	-1.21%	-0.71%		-0.18%	0.10%	-0.74%
AUD	-0.26%	-0.73%	-1.02%	-0.53%	0.18%		0.29%	-0.53%
NZD	-0.60%	-1.02%	-1.31%	-0.89%	-0.10%	-0.29%		-0.81%
CHF	0.27%	-0.20%	-0.49%	-0.10%	0.74%	0.53%	0.81%

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).