NZD/USD Asia Price Forecast: Kiwi ready for a larger retracement up

NZD/USD is bouncing from 2020 lows.
The level to beat for bulls is the 0.6360 resistance.

Flavio Tosti Independent Analyst

NZD/USD daily chart

Kiwi/Dollar is trading in a downtrend while bouncing modestly from the 2020 lows as the market is below the main SMAs. However, the USD weakness can lead to some profit-taking and help the currency pair to bounce some more particularly on a break above the 0.6360 level which could lead to further appreciation towards the 0.6380 and 0.6412 level. Support is seen 0.6300 and 0.6250 level.

Additional key levels

NZD/USD

Overview
Today last price	0.6349
Today Daily Change	0.0000
Today Daily Change %	0.00
Today daily open	0.6349

Trends
Daily SMA20	0.6444
Daily SMA50	0.656
Daily SMA100	0.6485
Daily SMA200	0.6495

Levels
Previous Daily High	0.6358
Previous Daily Low	0.6303
Previous Weekly High	0.6449
Previous Weekly Low	0.6303
Previous Monthly High	0.6741
Previous Monthly Low	0.6453
Daily Fibonacci 38.2%	0.6337
Daily Fibonacci 61.8%	0.6324
Daily Pivot Point S1	0.6315
Daily Pivot Point S2	0.6282
Daily Pivot Point S3	0.626
Daily Pivot Point R1	0.637
Daily Pivot Point R2	0.6392
Daily Pivot Point R3	0.6425

Author

Flavio Tosti

Independent Analyst

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