NZD/USD Price Forecast: Remains controlled near 0.5650, coming down channel’s lower limit
NZD/USD continues to trade within a coming down channel pattern, showing a continuous bearish predisposition.
An upward correction is suggested as the 14-day RSI is placed listed below the 30 mark.
The set might check the coming down channel's lower border at 0.5630 level.
The NZD/USD set edges lower to near 0.5650 throughout the European hours on Monday. The technical analysis of the everyday chart recommends a continuous bearish predisposition as the set is restricted within a coming down channel pattern.
In addition, the NZD/USD set stays listed below the 9- and 14-day Exponential Moving Averages (EMAs), signaling weak short-term rate momentum, which might suggest that the cost is most likely to continue experiencing down pressure.
The 14-day Relative Strength Index (RSI) stays ...