Retains bearish bias near 0.5650 below the 100-day EMA
The post Retains bearish bias near 0.5650 below the 100-day EMA appeared on BitcoinEthereumNews.com.
The NZD/USD pair posts modest losses near 0.5660 during the early European session on Thursday. The New Zealand Dollar (NZD) weakens against the US Dollar (USD) as the downbeat jobs report supported the case for a rate cut from the Reserve Bank of New Zealand (RBNZ) this month. New Zealand’s Unemployment Rate rose to 5.3% in the third quarter (Q3), the highest level since 2016. This figure followed the 5.2% recorded in Q2. Technically, NZD/USD maintains the negative outlook on the daily chart, with the price holding below the key 100-day Exponential Moving Average (EMA). The path of least resistance is to the downside, as the 14-day Relative Strength Index (RSI) stands below the midline near 31.15. This suggests bearish momentum in the near term. The initial support level for NZD/USD emerges at 0.5630, the low of November 5. Extended losses below the mentioned level could expose 0.5585, the low of February 28. The crucial contention level to watch is 0.5520, the low of April 8. On the bright side, the first upside target to watch for the pair is seen at 0.5754, the low of September 26. Sustained trading above this level could see a rally to the 0.5795-0.5800 zone, representing the upper boundary of the Bollinger Band and a psychological mark. Further north, the next hurdle is located at 0.5838, the 100-day EMA. NZD/USD Daily Chart New Zealand Dollar FAQs The New Zealand Dollar (NZD), also known as the Kiwi, is a well-known traded currency among investors. Its value is broadly determined by the health of the New Zealand economy and the country’s central bank policy. Still, there are some unique particularities that also can make NZD move. The performance of the Chinese economy tends to move the Kiwi because China is New Zealand’s biggest trading partner. Bad…
Filed under: News - @ November 6, 2025 6:25 am