In Friday's session, the NZD/USD declined just below the 0.6000 threshold, illustrating a bearish outlook as sellers continue to dominate the market.
Indicators flash oversold conditions on the daily chart. Contrarily, hourly chart indicators suggest a slow return of bullish impulse as the bears might have run out of steam. In Friday's session, the NZD/USD declined just below the 0.6000 threshold, illustrating a bearish outlook as sellers continue to dominate the market. The pair is positioned below its primary Simple Moving Averages , further backing the bearish perspective.
The value last rested at 28, corroborating its presence in the oversold territory. Contrarily, the MACD on the hourly chart displays rising green bars, hinting at a creeping positive momentum. NZD/USD hourly chart In essence, while the daily chart discloses a persisting bearish momentum, hourly indications of rising positive momentum in the MACD histogram may signal a reprieve from selling pressure.
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