NZD/USD Price Analysis: Bearish trend prevails, potential for further declines expected

• The daily RSI for the NZD/USD reveals growing selling pressure, nearing oversold conditions.
• The hourly indicators also remain weak.
• The pair will close a 0.80% losing week.

The NZD/USD pair saw a 0.25% loss on Friday’s sessing and continues exhibiting a significant bearish tendency. Both short-term and long-term outlooks suggest the prevalence of sellers, which may signal that the pair is bound for further downside.

On the daily chart, the Relative Strength Index (RSI) indicates a bearish trend. It lies deep in negative terrain and edged near oversold territory. The escalating red bars on the Moving Average Convergence Divergence (MACD) histogram align with this bearish stance, augmenting this downturn prediction.