The NZD/USD pair is showing signs of weakening buying momentum, with the daily MACD indicating a softening positive trend. However, overall, the trend still favors buyers, especially based on daily SMAs.
On the hourly chart, the RSI is fairly neutral but the MACD shows negative momentum, suggesting possible short-term fluctuations. Despite these potential shifts, the bullish bias based on daily SMAs remains intact.
Investors should be alert as the NZD/USD may experience retests of key SMAs due to weakening buying momentum. The pair fell just below 0.6100 recently, but maintaining its position above the 100 and 200-day SMAs could lead to a positive short-term outlook.
The RSI on the daily chart is positive but flattening, while the MACD shows decreasing green bars, indicating a slight softening of positive momentum.
In the hourly view, the RSI is at 41, reflecting a fairly neutral direction, while the MACD histogram displays flat red bars, signaling negative momentum on an intraday basis.
Overall, investors should keep an eye on the pair’s movement above the 100 and 200-day SMAs. While any downward movement may not necessarily be a selling signal, buying traction is decreasing, signaling a potential retest of the SMAs.