NZD/USD Price Analysis: Kiwi under bearish pressure near 2020 lows

NZD/USD is under bearish pressure near the 2020 lows.
The level to beat for bears is the 0.6594 support on a daily closing basis.

Flavio Tosti Independent Analyst

NZD/USD daily chart

NZD/USD is easing down from the December highs while nearing the 50-day simple moving average (SMA). The market is equally consolidating in a bull flag near the 0.6594 support. However, if the bears launch an attack the bull flag could fail and lead to a move down towards the 0.6566/52 price zone. Further down lie the 0.6525 level. Resistance is seen near 0.6614 and 0.6642 levels, according to the Technical Confluences Indicator.

Additional key levels

NZD/USD

Overview
Today last price	0.6596
Today Daily Change	0.0000
Today Daily Change %	0.00
Today daily open	0.6596

Trends
Daily SMA20	0.6652
Daily SMA50	0.6568
Daily SMA100	0.6457
Daily SMA200	0.6513

Levels
Previous Daily High	0.6611
Previous Daily Low	0.6581
Previous Weekly High	0.6666
Previous Weekly Low	0.6584
Previous Monthly High	0.6756
Previous Monthly Low	0.6424
Daily Fibonacci 38.2%	0.66
Daily Fibonacci 61.8%	0.6592
Daily Pivot Point S1	0.6581
Daily Pivot Point S2	0.6566
Daily Pivot Point S3	0.6551
Daily Pivot Point R1	0.6611
Daily Pivot Point R2	0.6626
Daily Pivot Point R3	0.6641

Author

Flavio Tosti

Independent Analyst

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