NZD/USD extends Thursday’s losses, hits a four-week low. Breakdown of key support and bearish RSI favor deeper losses. NZD/USD slipped to 0.7155 a few minutes before press time, the lowest since Feb. 5. The pair closed below the 50-day Simple Moving Average (SMA) on Thursday, validating the bearish lower high of 0.7307 created on March 2. The violation of the 50-day SMA in itself is bearish, as the technical line acted as strong support multiple times since Jan. 28. That, alongside a bearish or below-50 reading on the 14-day Relative Strength Index, suggests scope for deeper losses. Support is seen at 0.7096 (Jan. 18 low) followed by 0.7047 (100-day SMA). Meanwhile, resistance is located at 0.7210 (50-day SMA) and 0.7307 (March 2 high). Daily chart Trend: Bearish Technical 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 USD/CAD Price Analysis: Teases inverse head-and-shoulders confirmation on 4H FX Street 1 year NZD/USD extends Thursday's losses, hits a four-week low. Breakdown of key support and bearish RSI favor deeper losses. NZD/USD slipped to 0.7155 a few minutes before press time, the lowest since Feb. 5. The pair closed below the 50-day Simple Moving Average (SMA) on Thursday, validating the bearish lower high of 0.7307 created on March 2. The violation of the 50-day SMA in itself is bearish, as the technical line acted as strong support multiple times since Jan. 28. That, alongside a bearish or below-50 reading on the 14-day Relative Strength Index, suggests scope for deeper… 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.
