NZD/USD Price Analysis: Kiwi trading in a bull flag below 0.6614 resistance


  • NZD/USD remains under selling pressure near the 2020 lows.
  • The level to beat for sellers is the 0.6594 support on a daily closing basis. 
 
 

NZD/USD daily chart

 
NZD/USD attempted a break above the 0.6614 resistance and is now easing back down below the level. The market is consolidating in a bull flag while trading above the main simple moving averages (SMAs). However, if the sellers come back the bull flag could fail and lead to a drop towards the 0.6566/52 price zone. Further down lie the 0.6525 level. Resistance is seen near 0.6614 and 0.6642 levels, according to the Technical Confluences Indicator.  
  

Additional key levels 

NZD/USD

Overview
Today last price 0.6607
Today Daily Change 0.0008
Today Daily Change % 0.12
Today daily open 0.6599
 
Trends
Daily SMA20 0.6649
Daily SMA50 0.6572
Daily SMA100 0.6459
Daily SMA200 0.6512
 
Levels
Previous Daily High 0.661
Previous Daily Low 0.658
Previous Weekly High 0.6666
Previous Weekly Low 0.6584
Previous Monthly High 0.6756
Previous Monthly Low 0.6424
Daily Fibonacci 38.2% 0.6599
Daily Fibonacci 61.8% 0.6591
Daily Pivot Point S1 0.6583
Daily Pivot Point S2 0.6566
Daily Pivot Point S3 0.6553
Daily Pivot Point R1 0.6613
Daily Pivot Point R2 0.6626
Daily Pivot Point R3 0.6643

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD trades above 34-month lows after US retail sales miss

EUR/USD is trading around 1.0850, above the lowest since April 2017. The US Control Group disappointed by staying flat in January. Consumer sentiment beat expectations. Germany reported a 0% growth in Q4 2019. 

EUR/USD News

GBP/USD ticks down after reshuffle-related rally

GBP/USD is trading closer to 1.30, consolidating its gains after UK PM Johnson nominated Sunak as Chancellor instead of Javid, potentially directing fiscal stimulus. Brexit concerns and coronavirus developments are in play.

GBP/USD News

US retail sales modestly higher in January, soft in the details

Consumers kept to their habits boosting purchases last month but the holiday season was slower than its initial reading giving the New Year a soft beginning.

Read more

WTI climbs to fresh two-week highs above $52

The barrel of West Texas Intermediate (WTI) fell below the $51 handle on Thursday but recovered a large portion of its losses to close the day at $51.50 on easing concerns over the impact of the coronavirus outbreak on the global energy demand. 

Oil News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info

Forex MAJORS

Cryptocurrencies

Signatures