NZD/USD Price Analysis: Pair gave up and lost the 0.6070 vital area

• NZD/USD trudges below the 0.6070 level, marking its worst week since January.
• The pair closed at 0.6010, indicating a weekly loss of approximately 1.80%.
• NZD/USD remains under the key SMA of 20, 100, and 200 days, pointing to a sustained bearish bias.

In Friday’s session, the NZD/USD sustained its downward momentum, dropping by 0.65% to touch 0.6010. The pair’s failure to reclaim the 0.6070 level resulted in a dip to the significant 0.6000 line, consequently closing its worst week since the start of the year with a weekly loss of around 1.80%.

The daily technical indicators also echo this downward trend. The Relative Strength Index (RSI) has decreased further to 36 signaling a continuation of selling pressure. Additionally, the Moving Average Convergence Divergence (MACD) continues to print rising red bars, reaffirming the growing bearish sentiment.