NZD/USD Price Analysis: Kiwi advance paused near 0.6000 handle

NZD/USD rebounded from 2020 lows as the spot is challenging the 0.6000 figure
The bullish correction could be limited as DXY is getting some traction.

Flavio Tosti Independent Analyst

NZD/USD daily chart

After a rebound from the 2020 lows, NZD/USD is taking a breather at the start of the new week as the market is trading below the main daily simple moving averages (SMAs) suggesting an overall bearish bias.

NZD/USD four-hour chart

Kiwi/Dollar is trading near 0.6000 figure and below the 20 SMA on the four chart. The bulls have lifted the market from the 2020 lows but it is not clear if the current bullish correction can be sustained any further as bears would likely try to regain the 0.5900 and 0.5800 figures in the coming sessions while 0.6080 and 0.6200 levels can act as resistances.

Resistance: 0.6080, 0.6200 , 0.6300

Support: 0.6000, 0.5900, 0.5800

Additional key levels

NZD/USD

Overview
Today last price	0.6006
Today Daily Change	-0.0031
Today Daily Change %	-0.51
Today daily open	0.6037

Trends
Daily SMA20	0.6053
Daily SMA50	0.6289
Daily SMA100	0.6422
Daily SMA200	0.6439

Levels
Previous Daily High	0.607
Previous Daily Low	0.591
Previous Weekly High	0.607
Previous Weekly Low	0.5589
Previous Monthly High	0.6504
Previous Monthly Low	0.6192
Daily Fibonacci 38.2%	0.6009
Daily Fibonacci 61.8%	0.5971
Daily Pivot Point S1	0.5941
Daily Pivot Point S2	0.5846
Daily Pivot Point S3	0.5782
Daily Pivot Point R1	0.6101
Daily Pivot Point R2	0.6165
Daily Pivot Point R3	0.6261

Author

Flavio Tosti

Independent Analyst

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