NZD/USD Update
The New Zealand dollar has bounced back after two days of declines, trading around 0.5840 during European hours on Thursday. According to daily chart analyses, there’s a developing bearish trend since the currency pair is still positioned below an ascending channel.
Currently, the NZD/USD pair remains beneath both the 9-day and 50-day exponential moving averages (EMAs), indicating a short-term downward bias.
Recently, the pair pulled back from around the 0.5900 mark. The 14-day Relative Strength Index is close to 48, suggesting that momentum is weakening but isn’t entirely oversold. This indicates that sellers retain a notable structural edge, while any potential attempts to rise could face resistance from the nearby moving averages.
On the lower side, the NZD/USD is likely to hover near the five-month low of 0.5680.
Key resistance is found at the medium-term average of 0.5859, which aligns closely with the short-term average at 0.5865. If the pair manages to rally above these levels, it could re-enter the ascending channel and revive a bullish outlook. In that case, it might target the area around 0.6094, the highest level since January 29, 2025, and potentially reach the upper boundary of the ascending channel near 0.6120.
New Zealand Dollar Position
The New Zealand dollar is currently performing well against major currencies, particularly the US dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.01% | -0.09% | -0.67% | -0.11% | -0.20% | -0.19% | -0.37% | |
| EUR | 0.01% | -0.04% | -0.65% | -0.08% | -0.16% | -0.14% | -0.33% | |
| GBP | 0.09% | 0.04% | -0.58% | -0.02% | -0.11% | -0.09% | -0.28% | |
| JPY | 0.67% | 0.65% | 0.58% | 0.55% | 0.48% | 0.44% | 0.27% | |
| CAD | 0.11% | 0.08% | 0.02% | -0.55% | -0.09% | -0.09% | -0.26% | |
| AUD | 0.20% | 0.16% | 0.11% | -0.48% | 0.09% | 0.02% | -0.16% | |
| NZD | 0.19% | 0.14% | 0.09% | -0.44% | 0.09% | -0.02% | -0.18% | |
| CHF | 0.37% | 0.33% | 0.28% | -0.27% | 0.26% | 0.16% | 0.18% |
This chart illustrates the percentage changes of the New Zealand dollar against its major counterparts today. It’s interesting to see how the NZD has been the strongest performer against the US dollar lately.
