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

 

 

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.

Feed news

Get Weekly Crypto trade ideas!  
Empower yourself with the best market insights

Join FXStreet Premium!    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD attempts recovery above 1.1950 as USD resumes decline

EUR/USD is attempting a recovery above 1.1950 ahead of the European open, as the US dollar’s rebound falters amid persistent weakness in the Treasury yields. Easing concerns over EU's covid vaccines rollout and dovish Fed expectations underpin the spot.

EUR/USD News

GBP/USD recaptures 1.3850 as UK’s optimism offsets USD bounce

GBP/USD rises above 1.3850, picking up fresh bids heading into the London open. The cheers the UK’s advantage of faster vaccinations and unlock guidelines to shrug off the US dollar’s bounce off late the lowest since late March.

GBP/USD News

XAU/USD buyers attack six-week-old resistance line around $1,780

Gold keeps recovery moves from intraday low to print mild gains, picks up bids off-late. Ascending resistance line from early March tests bulls. 50-day SMA, monthly support line could offer bounces in case of pullback, any further weakness will recall the bears.

Gold News

Bitcoin network hash rate drop may not have caused BTC price crash

China’s prominent regions for Bitcoin mining have suffered an electrical grid blackout, causing Bitcoin’s hash rate to decline. Bitcoin price crashed over the weekend, coinciding with the drop of the network’s hash rate.

Read more

S&P 500 Week Ahead: Banks beat the street, COIN booms as funds flow to ETFs

Equity markets continue to remain bolstered from all sides as the macro environment produces strong numbers, earnings continue to smash estimates and inflation concerns take a back seat. Earnings season switches from bank stocks to reopening plays.

Read more

Forex MAJORS

Cryptocurrencies

Signatures