NZD/USD Price Analysis: Fades upside momentum below 0.7300


  • NZD/USD steps back from early-January tops, eases in a range between 0.7255-85.
  • Strong RSI, repeated bounces off 50-day SMA and 10-week-old support line favor bulls.

NZD/USD drops to 0.7260, with an immediate trading range, during Tuesday’s Asian session. In doing so, the kiwi pair trims the previous day’s gains while easing from January high.

Although the quote’s latest weakness drags NZD/USD towards a 50-day SMA level of 0.7209, its further downside will be tamed by the 0.7200 threshold and an upward sloping trend line from late-2020, around 0.7190.

In a case where the NZD/USD bears dominate past-0.7190, 0.7130 and the 0.7100 round-figure, also comprising multiple lows marked during January, could become their favorites.

On the flip side, a successful break above 0.7315 horizontal line including January high and February 24 low guards the pair’s immediate upside.

Should the NZD/USD buyers manage to conquer the 0.7315 hurdle, the 0.0.7370 holds the key to further run-up towards a multi-month-old peak surrounding 0.7465.

NZD/USD daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price 0.7265
Today Daily Change -2 pips
Today Daily Change % -0.03%
Today daily open 0.7267
 
Trends
Daily SMA20 0.7249
Daily SMA50 0.7195
Daily SMA100 0.7032
Daily SMA200 0.6798
 
Levels
Previous Daily High 0.7294
Previous Daily Low 0.7225
Previous Weekly High 0.7466
Previous Weekly Low 0.7223
Previous Monthly High 0.7466
Previous Monthly Low 0.7135
Daily Fibonacci 38.2% 0.7267
Daily Fibonacci 61.8% 0.7251
Daily Pivot Point S1 0.723
Daily Pivot Point S2 0.7193
Daily Pivot Point S3 0.7162
Daily Pivot Point R1 0.7299
Daily Pivot Point R2 0.733
Daily Pivot Point R3 0.7367

 

 

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