NZD/IDR Tumbles Amid Ongoing Selling Pressure
The NZD/IDR currency pair has been experiencing persistent short- and medium-term technical selling pressure, causing it to edge lower. The move is supported by the pair trading below its 20-day and 50-day moving averages, indicating seller dominance remains in place.
According to Traders Union, the MACD shows strong buy momentum, but most other indicators register selling pressure and signal an oversold state. Despite this, the trading range for the next five sessions is projected at Rp10,317 to Rp10,509 with a slight probability tilt toward an upward move.
The pair's current position below its 20-day moving average (Rp10,519) and 50-day moving average (Rp10,478) signals ongoing short- and medium-term downside pressure. However, the longer-term trend holds a bullish bias, with the MA-50 positioned above the MA-200.