TRENDING:

GBP/USD

XAU/USD

NZD/USD Price Analysis: Could test psychological level of 0.6100 following February’s high

NZD/USD plunges after the RBNZ decides to hold OCR at 5.5%.
A break below 0.6100 could lead the pair to navigate the region around the major support of 0.6050 and February’s low at 0.6037.
The immediate resistance appears around the 23.6% Fibonacci retracement level of 0.6124 followed by the major barrier at 0.6150.

Akhtar Faruqui FXStreet

NZD/USD extends its losing streak for the fourth consecutive session, plunging to near 0.6110 during the Asian trading hours on Wednesday. The pair faces challenges as the Reserve Bank of New Zealand (RBNZ) decided to hold the Official Cash Rate (OCR) unchanged at 5.5% in its February monetary policy meeting.

The immediate support for the NZD/USD pair is anticipated at the psychological level of 0.6100. A break below this psychological support could put downward pressure on the pair to navigate the region around the major support level of 0.6050 followed by February’s low at 0.6037.

The lagging indicator Moving Average Convergence Divergence (MACD) suggests a momentum shift toward the downward sentiment for the NZD/USD pair. The MACD line is positioned above the centerline but shows convergence above the signal line.

Additionally, the technical analysis of the 14-day Relative Strength Index (RSI) lies below the 50 level, suggesting a bearish sentiment.

On the upside, the NZD/USD pair could find the immediate resistance around the 23.6% Fibonacci retracement level of 0.6124 followed by the major barrier at 0.6150. A breakthrough above this level could lead the pair to explore the resistance zone around the 38.2% Fibonacci retracement level of 0.6179 and the psychological level of 0.6200.

Further improvement of the NZD/USD pair could retest February’s high at 0.6219.

NZD/USD: Daily Chart

NZD/USD

Overview
Today last price	0.6106
Today Daily Change	-0.0062
Today Daily Change %	-1.01
Today daily open	0.6168

Trends
Daily SMA20	0.6128
Daily SMA50	0.6178
Daily SMA100	0.6092
Daily SMA200	0.6076

Levels
Previous Daily High	0.6179
Previous Daily Low	0.6151
Previous Weekly High	0.6219
Previous Weekly Low	0.6122
Previous Monthly High	0.6339
Previous Monthly Low	0.6061
Daily Fibonacci 38.2%	0.6162
Daily Fibonacci 61.8%	0.6168
Daily Pivot Point S1	0.6153
Daily Pivot Point S2	0.6139
Daily Pivot Point S3	0.6126
Daily Pivot Point R1	0.6181
Daily Pivot Point R2	0.6194
Daily Pivot Point R3	0.6208

Author

Akhtar Faruqui

FXStreet

Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD clings to small gains near 1.1750

Following a short-lasting correction in the early European session, EUR/USD regains its traction and clings to moderate gains at around 1.1750 on Monday. Nevertheless, the pair's volatility remains low, with investors awaiting this weeks key data releases from the US and the ECB policy announcements.

GBP/USD remains confined in a range above mid-1.3300s ahead of UK jobs report

The GBP/USD pair extends its sideways consolidative price move through the Asian session on Tuesday and currently trades around the 1.3370-1.3365 region, nearly unchanged for the day. Traders seem reluctant and opt to wait for this week's important macro releases and the key central bank event risk before placing fresh directional bets.

Gold defends $4,300 as focus shifts to US NFP, PMI data

Gold price holds the $4,300 level, easing from the highest since October 21 in the Asian trading hours on Tuesday. The precious metal stays afloat on further US Federal Reserve rate cut bets. The US Nonfarm Payrolls report will take center stage later on Tuesday. Also, the US Retail Sales and Purchasing Managers Index will be published.

Top Crypto Losers: Aster, Midnight, and Ethena extend losses as selling pressure mounts

Aster, Midnight, and Ethena are the altcoins with the most losses over the last 24 hours, as the broader cryptocurrency market weakens amid Bitcoin dropping below $86,000.

NFP preview: Complex data release will determine if Fed was right to cut rates

The long wait is over, and the Bureau of Labor Statistics in the US will release nonfarm payrolls reports for both November and October at 1330 GMT on Tuesday. The overall NFP figure for October is expected to be -10k, however, it is expected to be influenced by a massive 130k drop in federal department workers.

BNB Price Forecast: BNB slips below $855 as bearish on-chain signals and momentum indicators turn negative

BNB, formerly known as Binance Coin, continues to trade down around $855 at the time of writing on Tuesday, after a slight decline the previous day. Bearish sentiment further strengthens as BNB’s on-chain and derivatives data show rising retail activity.

NZD/USD: Daily Chart

NZD/USD

Legal Text

Markets move fast. We move first.

Editor's Picks

Best Brokers in 2025