NZD/USD selling interest in progress; hits a one-week low.
NZD/USD is continuing this week’s sell-off with strong momentum, reaching a one-week low around 0.6730 and at the same time confirming the start of a bearish movement. The short-term bias looks negative as the MACD keeps losing ground below its red trigger line, while the RSI seems to be making its way down beneath the 50 neutral
The 0.6705 could be a critical level for steeper bearish actions if the pair continues the negative tendency. Also, the 0.6670 could attract some attention, taken from the low on January 4, while a significant leg below this hurdle could open the door for the next support of 0.6610.
However, if the pair reverses back to the upside and
Overall, NZD/USD has reverted back to the downside in the 4-hour chart, slipping below the SMAs, which are ready to post a bearish cross in the near future.
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