NZD/USD Price Analysis: Bears assert their dominance, eyes on a possible short-term momentum shift

The daily chart reveals a bearish bias, with RSI transitioning to negative territories and rising red bars in the MACD. The hourly chart demonstrates a contrary perspective flashing signals on a potential shift to the upside. If bears want to confirm a bearish outlook, they must conquer the 200-day SMA. In Monday's trading, NZD/USD remained largely unchanged around 0.6085 while the pair showed ongoing sell-off pressure.

The Relative Strength Index reflects similar negative conditions as observed on the daily chart, albeit, the index seems to have flattened. In addition, a shift in momentum can be discerned with the emergence of green bars in the MACD histogram. These indicate positive momentum in the last trading hours.

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