NZDUSD technical evaluation: NZDUSD consolidates in the present day. Stays beneath the 100 day MA.

The NZDUSD prolonged decrease final week, breaking again beneath its rising 100-day shifting common (at present at zero.59455) — a key technical barometer. Recall that in July, dips beneath this stage (July 16 and 17) failed to carry, leading to upside reversals. This time, sustaining worth motion beneath the 100-day MA is important for sellers to take care of management.

A transfer again above the 100-day MA could be a pink flag for bearish momentum, doubtlessly triggering a shift towards the upside as sellers lose conviction.

On the draw back, Friday’s low examined the higher boundary of a key swing zone between zero.5845 and zero.5860 — an space that additionally defines the ground of the broader vary relationship again to April. A decisive break beneath this zone would strengthen the bearish bias and open the door towards the 200-day shifting common at zero.58147. That stage turns into the subsequent must-clear goal for bears trying to construct momentum and take full management.

Key technical ranges:

• Resistance: 100-day MA at zero.59455

• Assist: Swing zone zero.5845–zero.5860

• Goal beneath: 200-day MA at zero.58147

This text was written by Emma Wang at investinglive.com.