In Tuesday's session, the NZD/USD declined by 0.40% to reach 0.6052 levels.
NZD/USD fails to preserve the 0.6070 level, plunging to lows seen in mid-May. Pairs are now trading below the critical 20, 100, and 200-day SMA lines, suggesting a bearish outlook. Daily indicators emphasize a mounting selling pressure. In Tuesday's session, the NZD/USD declined by 0.40% to reach 0.6052 levels. Buyers failed to hold the 0.6070 mark, causing the pair to hit mid-May lows.
Meanwhile, the Moving Average Convergence Divergence shows rising red bars, implying an increasing bearish momentum. NZD/USD daily chart Resistance can now be found at the previous support of 0.6070, followed by the 20-day SMA around 0.6100 and then at 0.6150 and above at 0.6200. Bulls need a decisive close above these levels for a bullish turnaround and to shift the focus upwards. The downside has a firm support at 0.6050 and then at 0.
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