In Wednesday's session, the NZD/USD traded around 0.6240 near crucial support levels.
NZD/USD stood neutral around 0.6240, testing critical support. The RSI is declining, indicating potential selling pressure and a shift in momentum. In Wednesday's session, the NZD/USD traded around0.6240 near crucial support levels. There are signals of a possible consolidation period as buyers pause after therally whichpushed the pair close to January's highs near0.6250. The technical indicators paint a neutral picture with the bullish momentum flattening.
The Relative Strength Index has retreated from overbought territory and currently points downwards, indicating a potential shift in momentum and a build-up of selling pressure. A fall below the 50 level would further underscore this bearish sentiment. In addition, the Moving Average Convergence Divergence prints flat green bars. NZD/USD daily chart The key support levels for the NZD/USD pair lie at 0.6200 and 0.6150. A breach of 0.6150 could trigger a deeper decline towards 0.
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