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NZD/USD PRICE ANALYSIS: BEARISH OVERTONES PERSIST, BULLISH HINTS EMERGE ON THE HORIZON

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  • The daily MACD shows a slight positive momentum, despite the overall bearish bias.
  • The daily RSI indicates that the sellers are dominating, though the indicator's flat trajectory suggests that the bearish momentum may be slowing.
  • On the hourly chart, the RSI oscillated near the neutral zone, showing inconsistent bearish-bullish signals.

The NZD/USD pair is trading at 0.6013, indicating a drop of 0.26% in Friday's session but will close a winning week. The prolonged downward trend suggests that sellers command the current market. However, the short-term outlook reveals a slight bullish momentum, which could lead to a period of sideways trading in the next sessions.

The daily Relative Strength Index (RSI) resides in negative territory, with a slightly flat slope, indicating sellers dominate this market but seem to be taking a breather. Moreover, the Moving Average Convergence Divergence (MACD) histogram has registered a green bar, pointing to a slight emergence of positive momentum


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