The NZD/USD plunged by 0.23% to 0.5830 in Tuesday's session, marking its fifth consecutive day in the red.
NZD/USD fell by 0.23% on Tuesday, slipping to 0.5830. Pair extended its decline and tallied a five-day losing streak, striking a fresh low below 0.5800, its lowest in over a year. Indicators warn about oversold conditions, which might push the pair somewhat upwards. The NZD/USD plunged by 0.23% to 0.5830 in Tuesday's session, marking its fifth consecutive day in the red. This decline saw the pair set a new low below 0.
The key indicators depict mounting selling pressure, accentuating the bearish outlook. The Relative Strength Index , hovering in negative territory at 36, signifies the current selling sentiment. Similarly, the Moving Average Convergence Divergence reinforces this bearish sentiment with its histogram transitioning to red and escalating. Despite indicators hinting at oversold conditions suggesting a potential temporary upswing, the bears still dominate the pair's trajectory.
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