The New Zealand Dollar weakens for the seventh straight session, trading below key moving averages amid persistent downside pressure.
The NZD/USD pair fell to around 0.5650 during Asian trading on Thursday, extending its decline for the seventh consecutive day. The pair remains below both the nine-day and 50-day Exponential Moving Averages (EMAs), reinforcing a bearish near-term bias.
Technical indicators show the spot price moving within a descending channel, with the 14-day Relative Strength Index (RSI) at 28, signaling oversold conditions. Initial support is seen at 0.5630, while resistance levels are marked at the nine-day EMA of 0.5717 and the 50-day EMA of 0.5826.
Further declines could test the 14-month low of 0.5580, recorded in November 2025, with potential downside toward 0.5485 if bearish momentum persists.