NZD/USD Price Analysis: Extend its rally to three days though retreats from 0.6890 to 0.6860s

  • The New Zealand dollar extends its rally to four days as the Asian session begins.
  • A risk-off market mood did not stop the NZD rise towards a fresh YTD high.
  • NZD/USD Technical Outlook: It has a neutral bias though if NZD bulls reclaim 0.6960, an attack towards the 200-DMA is on the cards.

The New Zealand dollar slightly advances for the fourth day in a row, extending its weekly rally. On the day, the NZD/USD pair surges some 0.01%, exchanges hands at 0.6859 at the time of writing. The leading cause of the rally is broad US dollar weakness, according to Joel Frank, an analyst at FX Street, spurred “by a long-squeeze/bout of profit-taking, goes against recent fundamental developments that many would normally see as USD bullish.”

NZD/USD Price Forecast: Technical outlook

On Thursday, during the overnight session for North American traders, the NZD/USD was subdued around the 0.6840-60 region until mixed US macroeconomic data triggered another leg-up, reaching a daily high at 0.6890. The rally stalled at the 0.6900 figure, which confluences with a 38.2% Fibonacci retracement, drawn from November – December 2021 cycle high/lows, retreating above the 50-day moving average (DMA).

The NZD/USD first ceiling level is the 38.2% Fibonacci retracement. A breach of the latter will expose the 50% Fibonacci level at 0.6960, followed by the 61.8% Fibonacci retracement at 0.7019.

Conversely, NZD bull’s first line of defense would be the 0.6800 figure. A clear break of it will send the pair tumbling to the January 6 daily low at 0.6733, followed by 2021 yearly low at 0.6702.



Today last price 0.6859
Today Daily Change 0.0003
Today Daily Change % 0.04
Today daily open 0.6856
Daily SMA20 0.6795
Daily SMA50 0.6866
Daily SMA100 0.6962
Daily SMA200 0.7025
Previous Daily High 0.6858
Previous Daily Low 0.6773
Previous Weekly High 0.6857
Previous Weekly Low 0.6733
Previous Monthly High 0.6891
Previous Monthly Low 0.6701
Daily Fibonacci 38.2% 0.6825
Daily Fibonacci 61.8% 0.6805
Daily Pivot Point S1 0.68
Daily Pivot Point S2 0.6744
Daily Pivot Point S3 0.6715
Daily Pivot Point R1 0.6885
Daily Pivot Point R2 0.6914
Daily Pivot Point R3 0.697



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD extends slide to 1.1300 as dollar gathers strength

EUR/USD continues to stretch lower and tests 1.1300 handle ahead of the American session. The greenback outperforms its major rivals as safe-haven flows dominate the financial markets. Investors await Markit's preliminary US Manufacturing and Services PMI data. 


GBP/USD tests 1.3500 on risk aversion, weak UK data

GBP/USD continues to edge lower and trades at its weakest level in more than two weeks near 1.3500. The data from the UK revealed that the private sector's business activity expanded at a softer pace in early January than it did in December.


Gold holds near $1840 ahead of key Fed meeting as geopolitical worries rise

Gold is holding near $1840 despite the stronger USD on a heightened safe-haven bid amid geopolitical concerns. What is expected to be a very hawkish Fed meeting will test gold’s resilience this week.

Gold News

Crypto carnage continues to unfold

Bitcoin price has witnessed a massive crash over the past week, undoing the gains seen since July 25. Ethereum, Ripple and other altcoins have followed suit, experiencing an even worse crash. 

Read more

Nvidia extends losses after Bitcoin’s overnight flash crash

NVDA investors are getting used to seeing the colour red after a year in 2021 when all they saw was green. On Friday, shares of NVDA fell by 3.21%.

Read more