NZD/USD hovers near the 0.7030 level, lacking directional strength. The descending trend line offers resistance confluence for the pair. Negative MACD favors a bearish outlook. The NZD/USD pair refreshes the daily lows near the 0.7010 level in the European session. Moving in a narrow trade band around 0.7020-30, the prices lack any immediate follow-through action. At the time of writing, NZD/USD is trading at 0.7027, down 0.01% on the day. NZD/USD hourly chart On the hourly chart, NZD/USD has been consolidating near 0.7030 a key psychological level. The price faces rejection near the downside trend line, which is extending from Friday’s high near the 0.7070 region. The formation of a Doji candle indicates a state of indecision among investors as of now. The Moving Average Convergence Divergence (MACD) oscillator trades below the midline with a negative bias. A sustained downside below 0.7030 would ask for weekly lows near 0.7000 and the next would be the lows of April 1st near the 0.7045 region. On the flip side, a break above the descending trend line will meet the 0.7045 horizontal resistance zone. Further, bulls will keep their eyes on Friday’s high near 0.7070, making it easier for them to climb toward the top of March 23 near the 0.7170 area. NZD/USD additional levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD faces selling pressure below 1.1900 FX Street 2 years NZD/USD hovers near the 0.7030 level, lacking directional strength. The descending trend line offers resistance confluence for the pair. Negative MACD favors a bearish outlook. The NZD/USD pair refreshes the daily lows near the 0.7010 level in the European session. Moving in a narrow trade band around 0.7020-30, the prices lack any immediate follow-through action. At the time of writing, NZD/USD is trading at 0.7027, down 0.01% on the day. NZD/USD hourly chart On the hourly chart, NZD/USD has been consolidating near 0.7030 a key psychological level. The price faces rejection near the downside trend line, which is extending from… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
