NZD/USD Price Analysis: Holds near 0.6230 amid improved Greenback, US NFP eyed

NZD/USD consolidates post-recent losses ahead of US Nonfarm Payrolls data.
The pair could surpass 0.6250 to test seven-day EMA at 0.6261.
MACD suggests a shift toward bearish market sentiment.

Akhtar Faruqui FXStreet

NZD/USD moves sideways with a negative bias, hovering around 0.6230 during the early European trading hours on Friday. The technical indicator 14-day Relative Strength Index (RSI) is positioned above the 50 level, signaling a strong sentiment. This suggests that the NZD/USD pair could approach the 0.6250 major followed by the seven-day Exponential Moving Average (EMA) at 0.6261.

A breakthrough above the major level could influence the bulls of the NZD/USD pair to approach the psychological region around 0.6300 level followed by the weekly high at 0.6329 and the major resistance at 0.6350 level.

On the downside, the NZD/USD pair could find immediate support at the 0.6200 psychological level. A break below the latter could put pressure on the pair to navigate the 38.2% Fibonacci retracement at 0.6167 level followed by the major support at 0.6150 level.

The technical analysis points toward a potential shift in sentiment for the NZD/USD pair. The placement of the Moving Average Convergence Divergence (MACD) line above the centerline, along with divergence below the signal line, signals a possible move toward a bearish sentiment. Traders are likely to keep a close eye on this lagging indicator and may await further confirmation before making trading decisions.

NZD/USD: Daily Chart:

NZD/USD: additional technical levels to watch

Overview
Today last price	0.6228
Today Daily Change	-0.0003
Today Daily Change %	-0.05
Today daily open	0.6231

Trends
Daily SMA20	0.6249
Daily SMA50	0.6105
Daily SMA100	0.6014
Daily SMA200	0.6093

Levels
Previous Daily High	0.6286
Previous Daily Low	0.622
Previous Weekly High	0.641
Previous Weekly Low	0.6264
Previous Monthly High	0.641
Previous Monthly Low	0.6084
Daily Fibonacci 38.2%	0.6245
Daily Fibonacci 61.8%	0.6261
Daily Pivot Point S1	0.6206
Daily Pivot Point S2	0.618
Daily Pivot Point S3	0.614
Daily Pivot Point R1	0.6272
Daily Pivot Point R2	0.6312
Daily Pivot Point R3	0.6338

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.

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