- NZD/USD was seen around the area of 0.5730, with modest daily losses before the Asian session.
- The pair tested the main convergence of the moving averages for 20 and 100 days, with risks on the negative side below this area.
During the Friday session before the Asian Open, NZD/USD decreased modestly and the last time he was hovering around the 0.5730 area. The pair remains under pressure after the sellers enter early in the day, as the price movement is now focused on the rapprochement between the simple moving averages for 20 days and 100 days-a major technical turn for short-term expectations.
The RSI (RSI) index has decreased sharply but is still being held in the positive area, and it hovers above 50 marks, indicating that the upscale momentum fades. The difference of moving average rapprochement (MACD) remains higher than scratch, but a graph prints smaller green strips, which reflects poor upward pressure.
Technically, a clean break less than the support area 0.5730-where SMAS intersects for 20 days and 100 days-can offer the husband to a deeper decline of about 0.5680 and then a zone 0.5620. On the other hand, if buyers are able to defend this support set, recovery attempts may target about 0.5780 and 0.5820 after that.
NZD/USD daily chart
