In Monday's session, the NZD/USD continued its downward trajectory, with a fall of 0.50% to reach 0.5980.
NZD/USD stumbles downwards, surrendering the pivotal 0.6000 mark, following its worst week since January. The pair settled at 0.5980 on Monday, ensuring a daily loss of approximately 0.50%. NZD/USD continues to remain under the key SMA of 20, 100, and 200 days, suggesting a prevailing bearish bias. In Monday's session, the NZD/USD continued its downward trajectory, with a fall of 0.50% to reach 0.5980. The inability of bulls to defend the 0.
The Relative Strength Index remains around 32, indicating sustained selling pressure from Friday's session. Furthermore, the Moving Average Convergence Divergence continues to print rising red bars, thereby bolstering the growing bearish sentiment. However, the RSI stands near oversold terrain, so a correction might be on the horizon. NZD/USD daily chart Resistance now lies at the former support level of 0.6000 and then around 0.6050. In contrast, potent support is currently noted at the 0.
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