The NZDUSD extended lower last week, breaking back below its rising 100-day moving average (currently at 0.59455) — a key technical barometer. Recall that in July, dips below this level (July 16 and 17) failed to hold, resulting in upside reversals. This time, sustaining price action below the 100-day MA is critical for sellers to maintain control.
A move back above the 100-day MA would be a red flag for bearish momentum, potentially triggering a shift toward the upside as sellers lose conviction.
On the downside, Friday’s low tested the upper boundary of a key swing zone between 0.5845 and 0.5860 — an area that also defines the floor of the broader range dating back to April. A decisive break below this zone would strengthen the bearish bias and open the door toward the 200-day moving average at 0.58147. That level becomes the next must-clear target for bears looking to build momentum and take full control.
Key technical levels:
-
Resistance: 100-day MA at 0.59455
-
Support: Swing zone 0.5845–0.5860
-
Target below: 200-day MA at 0.58147
