NZD/USD technical analysis: Kiwi navigating in troubled waters near 0.6570 level
|NZD/USD daily chart
NZD/USD is trading in a bear trend below the 0.6600 handle and its main simple moving averages (SMAs).
NZD/USD 4-hour chart
NZD/USD is trading below its main SMAs suggesting bearish momentum in the medium term.
NZD/USD 30-minute chart
NZD/USD is trading in a tight range below its main SMAs inside Monday’s range suggesting a sideways to down market in the short term.
The picture is quite unclear as the market can breakout in either direction. Bulls would need to break above 0.6890 to climb to the 0.6600 figure and 0.6620 level.
On the other hand, bears would need a break below 0.6560 on a daily closing basis to move down to the 0.6540 support level.
Additional key levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.