The NZD/USD stands at 0.6005 seeing mild losses in Tuesday’s session.
The NZD/USD exhibits a bearish trend with growing selling pressure, accentuated by the stiff resistance at the 0.6040 level. Indicators are flattening on the daily chart as bulls are running out of steam. The NZD/USD stands at 0.6005 seeing mild losses inTuesday’s session. Market movements highlight strong bearish momentum following consecutive losing sessions. The overall trend reveals strengthening selling pressure, with the NZD/USD facing considerable resistance at the 0.6040-50 level.
The RSI flutters around in negative territory, showing sellers have a short-term advantage. Notably, the hourly MACD histogram presents flat red bars indicative of negative momentum persisting throughout the session. NZD/USD hourly chart In the grand scope, the mounting seller dominance is underscored by the NZD/USD's struggle to pierce the 200-day Simple Moving Average at the 0.6040 level. This signifies a crucial resistance point for the pair.
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