NZD/USD Price Analysis: Inches closer to monthly resistance above 0.6100

NZD/USD stays on the bids for the third consecutive day.
A sustained break of 50-day EMA, 61.8% Fibonacci retracement keeps buyers hopeful.
100-day EMA adds to the upside barriers.

Anil Panchal FXStreet

NZD/USD takes the bids near 0.6105/10, up 0.50% on a day, amid the pre-European session on Wednesday. In doing so, the kiwi pair maintains its break of a joint comprising 50-day EMA and 61.8% Fibonacci retracement of March month fall.

As a result, buyers seem to target a falling trend line from April 30, at 0.6135 now, ahead of confronting the 100-day EMA figures around 0.6175.

If at all the NZD/USD prices remain positive beyond 0.6175, February month low near 0.6195 can offer an intermediate halt during the rise to March top surrounding 0.6450.

On the contrary, the pair’s daily closing below 0.6075 support confluence can recall 0.600 round-figures on the charts.

However, 50% of Fibonacci retracement and the monthly bottom could check further downside around 0.5960 and 0.5920 respectively.

NZD/USD daily chart

Trend: Further recovery expected

Additional important levels

Overview
Today last price	0.6106
Today Daily Change	29 pips
Today Daily Change %	0.48%
Today daily open	0.6077

Trends
Daily SMA20	0.6047
Daily SMA50	0.5996
Daily SMA100	0.6237
Daily SMA200	0.6326

Levels
Previous Daily High	0.612
Previous Daily Low	0.6032
Previous Weekly High	0.6157
Previous Weekly Low	0.5921
Previous Monthly High	0.6176
Previous Monthly Low	0.5843
Daily Fibonacci 38.2%	0.6086
Daily Fibonacci 61.8%	0.6066
Daily Pivot Point S1	0.6032
Daily Pivot Point S2	0.5988
Daily Pivot Point S3	0.5944
Daily Pivot Point R1	0.612
Daily Pivot Point R2	0.6164
Daily Pivot Point R3	0.6208

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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