
- NZD/USD may test the upper boundary of the descending channel near the nine-day EMA at 0.5961 level.
- The nine-day EMA staying below the 14-day EMA indicates persistent weakness in short-term price momentum.
- The pair may navigate the area around the lower boundary of the descending channel at 0.5860 level.
The NZD/USD pair holds ground after registering losses in the previous session, trading around 0.5920 during European hours on Wednesday. The daily chart analysis shows a strong bearish trend, with the NZD/USD pair moving downwards within a descending channel.
The nine-day Exponential Moving Average (EMA) remains below the 14-day
Already have an account? Sign in
0 Comment