- NZD/USD consolidates the previous day’s losses, maintains the U-turn from 21-day SMA.
- A horizontal area comprising November and February lows acts as the key support.
Following its another decline from 21-day SMA, NZD/USD retraces 0.15% to 0.6283 during early Wednesday.
In addition to the 21-day SMA level of 0.6340, a downward sloping trend line since December 31, 2019, currently around 0.6400, also acts as the key resistance.
If at all buyers manage to extend the recovery gains beyond 0.6400 on a daily closing basis, they confirm the broad descending triangle’s break, which in turn can propel the run-up towards the early-January lows surrounding 0.6600.
Meanwhile, 0.6240 can act as immediate support ahead of the 0.6200/6190 horizontal region.
Should there be a further downside past-0.6190, the quote can revisit the Monday’s flash crash low near 0.6000.
NZD/USD daily chart
Additional important levels
|Today last price||0.6282|
|Today Daily Change||12 pips|
|Today Daily Change %||0.19%|
|Today daily open||0.627|
|Previous Daily High||0.636|
|Previous Daily Low||0.6243|
|Previous Weekly High||0.6373|
|Previous Weekly Low||0.6195|
|Previous Monthly High||0.6504|
|Previous Monthly Low||0.6192|
|Daily Fibonacci 38.2%||0.6288|
|Daily Fibonacci 61.8%||0.6315|
|Daily Pivot Point S1||0.6222|
|Daily Pivot Point S2||0.6174|
|Daily Pivot Point S3||0.6105|
|Daily Pivot Point R1||0.6339|
|Daily Pivot Point R2||0.6408|
|Daily Pivot Point R3||0.6456|
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