NZD/USD Price Forecast: Bulls defend trendline above 0.5900
- NZD/USD holds above rising trendline drawn from July lows.
- Bullish RSI supports upside as buyers defend 0.5900 area.
- Break above 0.6000 exposes 0.6077 and yearly peak.
The NZD/USD is poised to finish Monday’s session virtually unchanged near its opening price, despite a modest 0.08% gain as the US Dollar weakens amid rising tensions in the Middle East. The pair trades above 0.5900.
NZD/USD Price Forecast: Technical Outlook
From a price action standpoint, the NZD/USD remains upward-biased, with the Kiwi Dollar sitting above an upslope support trendline drawn from the July lows, which it has tested three times. Worth noting that the pair is still above that trendline, an indication that buyers are stepping in once the NZD/USD dives to that support level, which could open the door for further upside.
The Relative Strength Index (RSI) remains bullish, indicating further upside.
For a bullish continuation, NZD/USD must reclaim the 0.5950 area, then 0.6000. A decisive breakout could expose the February 12 high at 0.6077, followed by the yearly peak of 0.6094 ahead of 0.6100.
Downwards, the first support is the previously mentioned trendline near 0.5901, followed by 0.5850. Once hurdled, the next stop will be the confluence of the 100- and 200-day SMAs near 0.5847/45 ahead of the 50-day SMA at 0.5818 and 0.5800.
NZD/USD Price Chart – Daily
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 US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.29% | -0.09% | -0.19% | -0.35% | -0.03% | -0.08% | -0.15% | |
| EUR | 0.29% | 0.17% | 0.09% | -0.06% | 0.22% | 0.23% | 0.13% | |
| GBP | 0.09% | -0.17% | -0.09% | -0.23% | 0.03% | 0.03% | -0.02% | |
| JPY | 0.19% | -0.09% | 0.09% | -0.16% | 0.17% | 0.15% | 0.07% | |
| CAD | 0.35% | 0.06% | 0.23% | 0.16% | 0.34% | 0.32% | 0.22% | |
| AUD | 0.03% | -0.22% | -0.03% | -0.17% | -0.34% | -0.01% | -0.06% | |
| NZD | 0.08% | -0.23% | -0.03% | -0.15% | -0.32% | 0.01% | -0.07% | |
| CHF | 0.15% | -0.13% | 0.02% | -0.07% | -0.22% | 0.06% | 0.07% |
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).
Nothing in this material constitutes investment advice, personal recommendation, investment research, an offer, or a solicitation to buy or sell any financial instrument. The content has been prepared without consideration of your individual investment objectives, financial situation, or needs, and should not be treated as such.
Past performance is not a reliable indicator of future performance and/or results. Forward-looking scenarios or forecasts are not a guarantee of future performance. Actual results may differ materially from those anticipated.
Mitrade makes no representation or warranty as to the accuracy or completeness of the information provided and accepts no liability for any loss arising from reliance on such information.
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