NZD/USD Price Analysis: Eases ahead of 0.6840 resistance confluence

NZD/USD fails to keep Monday’s recovery moves beyond 0.6635.
Key SMAs, short-term falling trend line question buyers amid normal RSI conditions.
Bears eye the previous day’s low during further weakness.

Anil Panchal FXStreet

NZD/USD wavers around 0.6630 during Tuesday’s Asian trading. The kiwi pair snapped a three-day losing streak on Monday before portraying the pullback from 0.6636 in the last few hours.

In doing so, the quote softens ahead of the key upside hurdle comprising 100-HMA and downward sloping resistance line from October 28.

With the RSI neither around the oversold nor overbought area, NZD/USD prices can extend the latest weakness towards Monday’s low of 0.6589. Though, the 0.6600 round-figure becomes immediate support to watch.

On the flip side, a clear break of 0.6840 resistance joint will confront a 200-HMA level of 0.6660 and Friday’s top of 0.6670 during the extra rise.

In a case where the NZD/USD bulls dominate past-0.6670, the 0.6700 threshold will precede October’s high surrounding 0.6726 to grab the market attention.

NZD/USD hourly chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price	0.6631
Today Daily Change	-3 pips
Today Daily Change %	-0.05%
Today daily open	0.6634

Trends
Daily SMA20	0.6633
Daily SMA50	0.665
Daily SMA100	0.6603
Daily SMA200	0.6391

Levels
Previous Daily High	0.6636
Previous Daily Low	0.6589
Previous Weekly High	0.6726
Previous Weekly Low	0.6597
Previous Monthly High	0.6726
Previous Monthly Low	0.6546
Daily Fibonacci 38.2%	0.6618
Daily Fibonacci 61.8%	0.6607
Daily Pivot Point S1	0.6603
Daily Pivot Point S2	0.6573
Daily Pivot Point S3	0.6556
Daily Pivot Point R1	0.665
Daily Pivot Point R2	0.6667
Daily Pivot Point R3	0.6697

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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