In recent trading sessions, the NZD/USD pair has seen a little recovery from its losses, but the general outlook continues to be bearish.
NZD/USD continues to struggle, after a two-day winning streak. The pair exhibits a pronounced bearish trend with a significant support level of around 0.5860 and resistance at 0.5980. The RSI remains below the midline, suggesting persistent bearish sentiment. The daily Relative Strength Index has stayed below the midline for the past 10 sessions while flattening around the 24-39 levels.
This continuance below the 50-level threshold underscores the sustained bearish sentiment. The Moving Average Convergence Divergence remains below the signal line, further substantiating the ongoing bearish trend. The histogram highlights decreasing red bars, which might be pointing towards a diminishing bearish momentum.
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