Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
19 Dec 2024

NZD/USD Price Analysis: Drops to 0.5630, extending its bearish streak

  • NZD/USD falls on Thursday, settling near 0.5630 and hitting new multi-year lows.
  • Pair remains well below the 20-day SMA, reinforcing the entrenched bearish trend at its lowest levels since October 2022.
  • RSI stands at 26 in oversold territory, offering little hope of a reversal, while MACD histogram shows rising red bars, indicating persistent selling pressure.

The NZD/USD pair extended its downtrend on Thursday, slipping by 0.36% to approximately 0.5630, a fresh multi-year low. Efforts by the bulls to stage any meaningful recovery continue to falter, as the 20-day Simple Moving Average (SMA), hovering around 0.5890, remains a distant target and a key barrier to halting the decline.

Technical indicators underscore the dire state of affairs. The Relative Strength Index (RSI) at 26 confirms oversold conditions, yet its inability to rebound suggests persistent downward momentum. Meanwhile, the Moving Average Convergence Divergence (MACD) histogram prints rising red bars, further cementing the bearish outlook and reducing the likelihood of a near-term turnaround.

As long as NZD/USD lingers below the 20-day SMA, the overall bias remains clearly negative. With no clear support levels nearby, the pair could face additional downside risks, keeping sellers firmly in control of the market’s direction.

NZD/USD daily chart

Dec 19, 2024

New Zealand ANZ – Roy Morgan Consumer Confidence rose from previous 99.8 to 100.2 in December

New Zealand ANZ – Roy Morgan Consumer Confidence rose from previous 99.8 to 100.2 in December
Read more Previous
Dec 19, 2024

New Zealand Exports increased to $6.48B in November from previous $5.77B

New Zealand Exports increased to $6.48B in November from previous $5.77B
Read more Next