NZD/USD depreciates more than 0. 5% after registering modest gains in the previous session, trading around 0. 5630 during the European hours on Wednesday. The daily chart’s technical analysis signals a persistent bearish bias as the pair price remains within the descending channel pattern. The 14-day Relative Strength Index (RSI) is positioned slightly above the 30 mark, strengthening the bearish bias. Further decline below the 30 level would indicate an oversold territory and a potential for an upward correction. The short-term price momentum is weaker as the pair trades below the nine-day Exponential Moving Average (EMA). On the downside, the NZD/USD pair could find its initial support at the psychological level of 0. 5600, followed by the lower boundary of the descending channel around 0. 5570. A breakout below the channel would reinforce the bearish bias and open the doors for the pair to explore the area around 0. 5485, the lowest level since March 2020, which was recorded on April 9, 2025. The immediate barrier lies at the nine-day EMA of 0. 5658. A break above this level would improve the short-term price momentum and support the NZD/USD pair to approach the upper boundary of the descending channel around 0. 5740, followed by the 50-day EMA at 0. 5748. Further advances would improve the medium-term price momentum and lead the pair to navigate the region around the three-month high of 0. 6008, reached on September 17.
https://bitcoinethereumnews.com/finance/falls-toward-0-5600-after-pulling-back-from-nine-day-ema/
Falls toward 0.5600 after pulling back from nine-day EMA
