NZD/USD Price Forecast: Slumps further below 200-day SMA, eyes on 0.57

NZD/USD Price Forecast: Technical outlook

After the Reserve Bank of New Zealand's hawkish tilt, the NZD/USD rose from around 0.5800ish to near 0.6000 before recoiling beneath the 0.5750 figure. Broad US Dollar strength due to the US-Iran conflict, along with the pair diving below the 200-day Simple Moving Average (SMA) at 0.5833, a technical level that suggests an asset is bullish or bearish, depending on whether it's above or below.

Therefore, the NZD/USD path of least resistance is downwards. The next support is the January 9 low of 0.5711, ahead of 0.5700. On further weakness, the next area of interest would be the April 3 swing low of 0.5679, before testing the psychological 0.5650 mark.

For a bullish reversal, buyers must challenge the 0.5800 level to push NZD/USD towards the 200-day SMA. A breach of the latter will expose the 50-day SMA at 0.5875.

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		0.90%	1.32%	0.73%	1.29%	0.47%	1.55%	1.35%
EUR	-0.90%		0.40%	-0.17%	0.39%	-0.42%	0.64%	0.44%
GBP	-1.32%	-0.40%		-0.73%	-0.01%	-0.82%	0.27%	0.05%
JPY	-0.73%	0.17%	0.73%		0.55%	-0.26%	0.86%	0.62%
CAD	-1.29%	-0.39%	0.00%	-0.55%		-0.85%	0.30%	0.07%
AUD	-0.47%	0.42%	0.82%	0.26%	0.85%		1.10%	0.87%
NZD	-1.55%	-0.64%	-0.27%	-0.86%	-0.30%	-1.10%		-0.19%
CHF	-1.35%	-0.44%	-0.05%	-0.62%	-0.07%	-0.87%	0.19%

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).