The NZD/USD trades rose to 0.5930 in Tuesday’s session, marking a slight increase with gains of 0.17%. The currency pair continues to be guided by a long-term bearish trend. However, there is an attempt to challenge this bearish supremacy by buyers, albeit modest, and hourly indicators suggest that the momentum picked up is still weak.
On the daily chart, the Relative Strength Index (RSI) reveals a slight recovery showing a reading of 43, still within the negative territory, but suggesting a recent shift in bias among traders from negative to possibly a more positive trend. The decreasing red bars of the Moving Average Convergence Divergence (MACD) also support a weakening of the selling traction and a possible shift.
The hourly Relative Strength Index (RSI) presents a more upbeat picture, remaining above the 50 level, with a recent peak close to the 70 level. The latest reading stands at 57.75, providing a boost in momentum. Concurrently, the hourly Moving Average Convergence Divergence (MACD) registers decreasing green bars, indicating weak buying traction.
In terms of the broader outlook, the NZD/USD resides in a definitive bearish stance as its latest position stays below the key Simple Moving Averages (SMA), of 20, 100, and 200-days SMA. This positioning suggests that the overall trend leans heavily towards the downside. In addition, positive signals were detected on the hourly and daily chart but those signals were not decisive buying signals as the buying momentum remains weak. Buyers must increase their efforts and reclaim the 20-day SMA to start talking.
Overview | |
---|---|
Today last price | 0.5933 |
Today Daily Change | 0.0014 |
Today Daily Change % | 0.24 |
Today daily open | 0.5919 |
Trends | |
---|---|
Daily SMA20 | 0.5968 |
Daily SMA50 | 0.6058 |
Daily SMA100 | 0.6121 |
Daily SMA200 | 0.6053 |
Levels | |
---|---|
Previous Daily High | 0.593 |
Previous Daily Low | 0.5886 |
Previous Weekly High | 0.5954 |
Previous Weekly Low | 0.5851 |
Previous Monthly High | 0.6218 |
Previous Monthly Low | 0.5956 |
Daily Fibonacci 38.2% | 0.5913 |
Daily Fibonacci 61.8% | 0.5903 |
Daily Pivot Point S1 | 0.5894 |
Daily Pivot Point S2 | 0.5868 |
Daily Pivot Point S3 | 0.585 |
Daily Pivot Point R1 | 0.5938 |
Daily Pivot Point R2 | 0.5956 |
Daily Pivot Point R3 | 0.5982 |
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