NZD/USD Price Analysis: Hovers above 0.6100 followed by 23.6% Fibonacci level

NZD/USD gains ground on improved risk appetite.
The pair could reach the 23.6% Fibonacci retracement at 0.6125 and the 50-day EMA of 0.6136.
A break below the psychological support of 0.6100 could lead the pair to revisit the weekly low at 0.6038.

Akhtar Faruqui FXStreet

NZD/USD trades higher for the third straight session around 0.6110 during the early European session on Thursday. The NZD/USD pair could find the resistance zone around the 23.6% Fibonacci retracement at 0.6125 followed by the 50-day Exponential Moving Average (EMA) of 0.6136.

A breakthrough above the 50-day EMA could support the pair to explore the area around 0.6150 followed by the 38.2% Fibonacci retracement at 0.6179. If the NZD/USD pair breaches the latter, it could test the psychological resistance of the 0.6200 level.

The technical analysis for the NZD/USD pair indicates a tepid momentum in the market. The Moving Average Convergence Divergence (MACD) line is positioned on the centerline, showing divergence below the signal line. However, the lagging indicator 14-day Relative Strength Index (RSI) lies below the 50 level, suggesting a weaker sentiment for the NZD/USD pair.

On the downside, immediate support for the NZD/USD pair is identified at the psychological level of 0.6100. A decisive break below this level could exert downward pressure, leading the pair to revisit the major support at 0.6050 before the weekly low at 0.6038. The bearish sentiment could lead the pair to navigate the region around the psychological support at 0.6000.

NZD/USD: Daily Chart

NZD/USD: additional important levels

Overview
Today last price	0.611
Today Daily Change	0.0001
Today Daily Change %	0.02
Today daily open	0.6109

Trends
Daily SMA20	0.6123
Daily SMA50	0.6187
Daily SMA100	0.6067
Daily SMA200	0.6085

Levels
Previous Daily High	0.6125
Previous Daily Low	0.6073
Previous Weekly High	0.6175
Previous Weekly Low	0.6059
Previous Monthly High	0.6339
Previous Monthly Low	0.6061
Daily Fibonacci 38.2%	0.6105
Daily Fibonacci 61.8%	0.6093
Daily Pivot Point S1	0.608
Daily Pivot Point S2	0.6051
Daily Pivot Point S3	0.6028
Daily Pivot Point R1	0.6132
Daily Pivot Point R2	0.6154
Daily Pivot Point R3	0.6183

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.

AUD/USD slides as AI sell-off rattles Wall Street

The Aussie Dollar dives 0.11% on Thursday as the US Dollar retreats from monthly highs, with safe-haven flows shifting from the Greenback to the Japanese Yen and the Swiss Franc amid losses on Wall Street and US yields. The AUD/USD trades at 0.6960 at the time of writing.

USD/JPY slips below 158.00 as USD retreats

USD/JPY returns to the red below 158.00 in the Asian session on Thursday amid speculation that authorities will step in to prop up the Japanese Yen. Meanwhile, the US Dollar eases from near an 18-month high on profit taking, ignoring Wednesday's hawkish FOMC Minutes and the risk of a further escalation of tensions in the Middle East, adding to the pair's pullback.

Gold clings to daily gains; still below $4,150

Gold regains some composure and climbs back to the vicinity $4,150 mark per troy ounce amid decent gains on Thursday. The yellow metal’s recovery follows some loss of momentum in the US Dollar strength and a decent drop in US Treasury yields across the curve.

XRP downtrend persists as EMA support strains while Binance reserves swell

Ripple (XRP) sellers are gaining ground on Thursday, as the token slips below $1.40. Sell-side pressure remains intense in the broader crypto market, as seen with leading digital assets, including Bitcoin (BTC) currently below $83,000 and Ethereum (ETH), sliding below $2,600. Despite the correction, XRP retains a constructive technical outlook, with support provided by a key moving average cluster.

Three fundamental drivers are all pushing the Euro south. This chart shows them lining up on 1.1000

EUR/USD has already fallen sharply, but the forces pushing the pair lower are becoming increasingly interconnected. French fiscal concerns, renewed energy pressure and an uncomfortable policy dilemma for the European Central Bank (ECB) are colliding with a US economy that continues to give the Federal Reserve (Fed) little reason to turn dovish.

The UK 30-year gilt just hit a 1998 high. Is that good or bad for the British Pound?

The yield on the UK's 30-year government bond, or gilt, went through 6% on October 1 for the first time since early 1998, and on Monday the Pound was at its strongest against the Euro since June 2025. The gilt market's 28-year high is mostly someone else's. Since early May, the 30-year gilt yield has risen about 0.15 of a percentage point and the US 30-year about 0.7.