NZD/USD Continues Downward Trend

The NZD/USD pair is experiencing a losing streak that began on June 17th, with current trading around 0.5650 during Friday’s Asian session. A look at the daily chart reveals that the price is descending within a channel, indicating a strong bearish sentiment.

Short-term technical indicators show that the pair remains bearish, trading below both the 9-period exponential moving average (EMA) at 0.5703 and the 50-period EMA at 0.5820. This configuration—where both the short-term and medium-term EMAs sit above the price—suggests ongoing downward pressure. Interestingly, the 14-day Relative Strength Index (RSI) is in the oversold zone at 28, hinting that while the decline is persisting, there are no solid signs of a turnaround yet.

The pair is likely to encounter initial support around the lower edge of the descending channel at approximately 0.5620. Following that, there’s the 14-month low from November 2025 at about 0.5580. If it breaks below this support area, the bearish trend could strengthen significantly, possibly pushing it to the lowest point since March 2020, around 0.5485.

On the upside, a rise could see the NZD/USD pair approaching a significant resistance point at the 9-day EMA of 0.5703 before hitting the upper boundary of the descending channel near 0.5760. Further resistance may be found at the 50-day EMA, which is situated around 0.5819.