- The NZD/USD was seen around the 0.5730 zone and issued modest daily losses in front of the Asian session.
- The double tests a significant combination of 20 and 100 -day moving averages, and under this area, downward risks arise.
During the session before the Asian opening on Friday, the NZD/USD fell modestly and was last seen wandering around the 0.5730 zone. The couple, the sellers are under pressure after stepping in the early hours of the day, the price action is now gathered around the convergence of 20-day and 100-day simple moving averages-an important technical intersection for a short term appearance.
The relative force index (RSI) has fallen sharply, but is still kept in the positive area, moving just above 50 signs, which breathes the rise momentum. The moving average convergence deviation (MACD) remains above zero, but the histogram presses smaller green rods and reflects the slimming upper pressure.
Technically, a clean break below the 0.5730 support area of 20 days and 100 -day SMAs may expose the pair to 0.5680 and then a deeper withdrawal to 0.5620 zone. On the FLip side, if recipients manage to defend this set of support, recovery initiatives can then target resistance around 0.5780 and 0.5820.
NZD/USD daily graphics
