NZD/USD Price Forecast: Bears loom after testing 200-DMA downwards

NZD/USD Price Forecast: Technical outlook

Kiwi’s technical picture remains upward biased after briefly testing the 200-day Simple Moving Average (SMA) at around 0.5874, climbing above the latter and finishing the session closer to the 0.5900 figure.

Momentum is bearish biased as depicted by the Relative Strength Index (RSI), which is below its 50-neutral level, aiming towards oversold territory.

Hence, the NZD/USD could extend its losses in the short term if sellers clear the 200-day SMA at 0.5874. Once surpassed, the next area of interest would be the day’s low of 0.5836 ahead of the 100-day SMA at 0.5813. A breach of the latter will expose the January 19 low of 0.5737.

For a bullish resumption, traders must clear key resistance levels like the 50-day SMA at 0.5909. After this, watch the March 3 daily peak at 0.5955 for the next area of supply ahead of 0.6000.

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 Swiss Franc.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		1.32%	0.49%	0.94%	0.24%	0.29%	1.13%	1.89%
EUR	-1.32%		-0.83%	-0.31%	-1.07%	-1.01%	-0.18%	0.57%
GBP	-0.49%	0.83%		0.34%	-0.26%	-0.19%	0.64%	1.43%
JPY	-0.94%	0.31%	-0.34%		-0.72%	-0.69%	0.19%	0.87%
CAD	-0.24%	1.07%	0.26%	0.72%		0.00%	0.92%	1.67%
AUD	-0.29%	1.01%	0.19%	0.69%	-0.01%		0.82%	1.60%
NZD	-1.13%	0.18%	-0.64%	-0.19%	-0.92%	-0.82%		0.79%
CHF	-1.89%	-0.57%	-1.43%	-0.87%	-1.67%	-1.60%	-0.79%

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).