NZD/USD Price Analysis: Kiwi jumps to test critical resistance around 0.6620

  • Kiwi outperforming during the American session as USD tumbles and modest improvement in risk sentiment.
  • NZD/USD rises to the upper limited of a short-term descendant channel.

A weaker US dollar across the board boosted the NZD/USD pair that outperformed on the back of a stronger kiwi. The pair broke above the 0.6570 resistance, gaining more strength.

So far, NZD/USD peaked at 0.6619, the highest level in a week. It continues to trade around the 0.6615/20 area, a key short-term barrier that contains an horizontal resistance and the upper border of a descendant channel.

A consolidation above 0.6620 would point to more gains targeting 0.6640 and above the last week high at 0.6650. While if NZD/USD fails at the current level, the channel will remain in place, suggesting weakness ahead. The immediate support stands at 0.6595 followed by 0.6565.

NZD/USD 4-hour chart



Today last price 0.6611
Today Daily Change 0.0063
Today Daily Change % 0.96
Today daily open 0.6548
Daily SMA20 0.6594
Daily SMA50 0.6557
Daily SMA100 0.6358
Daily SMA200 0.6374
Previous Daily High 0.6559
Previous Daily Low 0.6514
Previous Weekly High 0.6652
Previous Weekly Low 0.6488
Previous Monthly High 0.6716
Previous Monthly Low 0.644
Daily Fibonacci 38.2% 0.6542
Daily Fibonacci 61.8% 0.6531
Daily Pivot Point S1 0.6521
Daily Pivot Point S2 0.6495
Daily Pivot Point S3 0.6476
Daily Pivot Point R1 0.6566
Daily Pivot Point R2 0.6585
Daily Pivot Point R3 0.6611



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