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.

Flavio Tosti Independent Analyst

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

Author

Flavio Tosti

Independent Analyst

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