NZD/USD Price Analysis: Kiwi limited while under 0.6350

Volatility and erratic moves during the last trading session of the year.
NZD/USD to end year with a 7.30% loss.
The 0.6500 has the key to more gains for the Kiwi.

Matías Salord FXStreet

The NZD/USD is trading above 0.6300 during the last trading day of 2022. On a volatile session the pair hit the highest level in a week at 0.6373 and then pulled back to the 0.6330 zone.

The Kiwi is among the worst performers on Friday, on a volatile final trading day of 2022. For the year, the NZD lagged among commodity currencies, even after the recovery of the last quarter.

The NZD/USD bottomed during 2022 at 0.5512 in early October. It then started to recovery, trimming yearly losses. The upside move peaked slightly above 0.6500 two weeks ago. The 0.6500 area is a strong barrier that if broken should open the doors to more gains for the Kiwi.

The daily chart shows NZD/USD testing the 20-day Simple Moving Average that is hovering around 0.6350, a horizontal resistance area. While below, risks are tilted toward another test of the bottom of the current range at 0.6240. A daily close well above 0.6350 would point to further gains.

NZD/USD daily chart

NZD/USD weekly chart

Technical levels

NZD/USD

Overview
Today last price	0.6334
Today Daily Change	-0.0014
Today Daily Change %	-0.22
Today daily open	0.6348

Trends
Daily SMA20	0.6349
Daily SMA50	0.6148
Daily SMA100	0.6041
Daily SMA200	0.6244

Levels
Previous Daily High	0.6359
Previous Daily Low	0.6263
Previous Weekly High	0.641
Previous Weekly Low	0.623
Previous Monthly High	0.6314
Previous Monthly Low	0.5741
Daily Fibonacci 38.2%	0.6322
Daily Fibonacci 61.8%	0.63
Daily Pivot Point S1	0.6288
Daily Pivot Point S2	0.6227
Daily Pivot Point S3	0.6192
Daily Pivot Point R1	0.6384
Daily Pivot Point R2	0.642
Daily Pivot Point R3	0.648

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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