DailyBubble News
DailyBubble News

Momentum slackens as buyers get rejected at the 200-day SMA

The NZD/USD pair has experienced a slight decline of 0.21% at the end of the week, signaling a loss of momentum for buyers. The daily chart shows a subtle shift in momentum, with decreasing MACD green bars and a neutral RSI. While the short-term outlook remains positive, there are indications of a potential bearish trend emerging.

On the hourly chart, indicators suggest a balanced scenario for the session, with both RSI and MACD showing a lack of clear direction. The NZD/USD pair is currently trading below the key 100 and 200-day Simple Moving Averages (SMAs), indicating a bearish bias. The sellers’ strength is evident at the 200-day SMA barrier, reinforcing the short-term bearish trend.

If the bulls are able to hold above the 20-day SMA, the downside potential in the coming sessions will be limited. However, the overall trend appears to be flattening, with a potential for a bearish grip to take hold.

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