NZD/USD Price Forecast: Kiwi reversal puts 0.5700 under pressure
The Kiwi Dollar turns negative on the day, down 0.11% against the US Dollar, in a week that saw the Feds first rate hike in three years, which underpinned the Greenback against most G8 FX currencies. The NZD/USD trades at 0.5725 after reaching a high of 0.5787. NZD/USD Price Forecast: Technical Outlook Price action shows that sellers piled in strongly on Friday as the NZD/USD spiked towards 0.5787, but the move was reversed and the pair finished the week near Fridays daily low. The Relative Strength Index (RSI) is about to turn oversold for the second time in September, meaning that the downtrend is set to resume. For a bearish continuation, NZD/USD must clear 0.5700. A decisive break will expose the July 8 daily low of 0.5671, before the pair challenges the year-to-date (YTD) low of 0.5626. Discover more Try CAD Software Take Economics Courses NEWS On the other hand, if NZD/USD rises past 0.5750, it opens the door to test 0.5800. If breached, the pairs next resistance is the 100-day Simple Moving Average (SMA) at 0.5834. Above is the 200-day SMA at 0.5853 and the 50-day SMA at 0.5856. NZD/USD Price Chart – Daily NZD/USD daily chart New Zealand Dollar FAQs The New Zealand Dollar (NZD), also known as the Kiwi, is








