- The NZD/USD pair’s next potential upward target lies at the rectangle’s upper boundary, approximately at the 0.6020 level, followed by the six-month peak of 0.6038.
- The 14-day Relative Strength Index (RSI) has surpassed the 50 threshold, suggesting a growing bullish sentiment in the market.
- A decline below the nine-day Exponential Moving Average (EMA) at 0.5929 would likely diminish the pair’s short-term positive momentum.
The NZD/USD pair is maintaining its upward trajectory, building on gains of roughly 1.50% from the previous trading session. Currently, it is trading around the 0.5940 mark during Wednesday’s European trading hours. A technical assessment of the daily chart reveals a neutral outlook, as the currency pair remains confined within a defined rectangular trading range. Market participants are closely watching for a breakout from this consolidation pattern to determine the next directional move.
However, the 14-day Relative Strength Index (RSI) has ascended above the 50 level, indicating a potential shift towards bullish momentum. Furthermore, the NZD/USD pair’s position above the nine-day Exponential Moving Average (EMA) lends credence to the strengthening short-term upward trend. These technical indicators suggest that buyers may be gaining control, although confirmation through a breakout of the rectangle pattern is still needed.
Looking ahead, the NZD/USD pair could potentially target the upper boundary of the rectangle pattern, situated around 0.6020. Beyond this level, the next significant resistance lies at the six-month high of 0.6038, a level last observed in November 2024. A decisive break above this critical resistance zone could pave the way for the pair to test the region near the seven-month high of approximately 0.6350, which was recorded in October 2024. Such a move would signal a strong bullish trend and could attract further buying interest.
Conversely, on the downside, the NZD/USD pair may encounter initial support at the nine-day EMA, currently positioned at 0.5929. A breach below this level would likely weaken the short-term bullish momentum and exert downward pressure on the pair, potentially leading to a retest of the lower boundary of the rectangle pattern around 0.5850, which aligns closely with the 50-day EMA at 0.5843. A sustained move below this key support zone could further erode medium-term momentum, potentially exposing the pair to a more substantial decline towards 0.5485 – a level that was last seen in March 2020, during the initial stages of the global pandemic-induced market volatility. Traders should also pay attention to upcoming economic data releases from both New Zealand and the United States, as these could significantly impact the pair’s direction.
NZD/USD: Daily Chart
New Zealand Dollar PRICE Today
The table below illustrates the percentage change in the value of the New Zealand Dollar (NZD) relative to other major currencies today. Notably, the New Zealand Dollar exhibited the strongest performance against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.41% | -0.29% | -0.72% | -0.11% | -0.33% | -0.30% | -0.36% | |
| EUR | 0.41% | 0.12% | -0.25% | 0.29% | 0.09% | 0.10% | 0.04% | |
| GBP | 0.29% | -0.12% | -0.37% | 0.17% | -0.03% | -0.03% | -0.09% | |
| JPY | 0.72% | 0.25% | 0.37% | 0.54% | 0.32% | 0.34% | 0.27% | |
| CAD | 0.11% | -0.29% | -0.17% | -0.54% | -0.22% | -0.18% | -0.25% | |
| AUD | 0.33% | -0.09% | 0.03% | -0.32% | 0.22% | 0.02% | -0.04% | |
| NZD | 0.30% | -0.10% | 0.03% | -0.34% | 0.18% | -0.02% | -0.08% | |
| CHF | 0.36% | -0.04% | 0.09% | -0.27% | 0.25% | 0.04% | 0.08% |
The heat map visually represents the percentage changes between major currencies. The base currency is selected from the left column, while the quote currency is chosen from the top row. For instance, selecting the New Zealand Dollar from the left column and tracing horizontally to the US Dollar will display the percentage change representing NZD (base)/USD (quote), providing a quick overview of relative currency performance.
