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NZD/USD PRICE ANALYSIS: KIWI BULLS FIND SOME LIGHT, BEARS COMMAND THE BROADER STAGE

hagijeee
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  • The daily RSI recovered from near-oversold levels.
  • The hourly chart indicators exhibited a sharp uptick with the RSI above 70.
  • Buyers need to breach the key 20-day SMA for further ascents.

The NZD/USD was trading around the 0.6000 zone during Wednesday's session, reflecting an increase of 0.55%. The technical outlook indicates that sellers have had a more significant influence on the market. Nevertheless, buying momentum grew during the session as the Greenback was one of the weakest performers due to fundamental reasons.


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