Forex
NZD/AUD Takes a Hit as Bearish Momentum Continues
The New Zealand Dollar (NZD) has continued its downward trend against the Australian Dollar (AUD), as persistent bearish momentum dominates trading.
According to technical analysis, the pair is currently trading below all major moving averages, with sellers firmly in control across various time frames.
This is reinforced by key indicators such as MACD, ADX, and CCI, which show strong seller control and oversold conditions.
The current price of NZD/AUD stands at A$0.8015, with a near-term floor at A$0.7975 and an over 80% probability of further downside.