NZD/USD Price Analysis: Looking for a climb back into 0.5950

NZD/USD looking for a gentle climb back into weekly P0 pivots after Friday's late-week bounce from S1.
Technical resistance for hourly candles sitting at 200-hour SMA near 0.5970.
Upside momentum constrained by bearish 50-hour SMA, downside potential for the week stretching into 0.5840.

Joshua Gibson FXStreet

The NZD/USD is catching a minor lift for Monday, testing into the 0.5930 region after the week's opening bids gapped higher into 0.5920 from Friday's closing price of 0.5889.

With the broader market seeing risk appetite moderately recover, the US Dollar (USD) is getting pushing slightly lower, giving the Kiwi (NZD) some much-needed breathing room after a sharp decline from last week's peak at 0.6056.

The 0.6000 major handle is now benched far above intraday price action, with the R1 weekly pivot sitting above near 0.6012.

Looking to the medium-term, daily candlesticks have the Kiwi dropping back below the 50-day Simple Moving Average (SMA), which is pushing downwards into 0.5950, and the previous swing low into 0.5870 remains firmly in play.

The NZD/USD has been trapped in a constraining pattern ever since tumbling into the 0.5900 region in August, down from July's peaks at 0.6413, and the 200-day SMA is rolling over into bearish momentum, pushing into 0.6150.

NZD/USD Hourly Chart

NZD/USD Daily Chart

NZD/USD Technical Levels

NZD/USD

Overview
Today last price	0.5927
Today Daily Change	0.0038
Today Daily Change %	0.65
Today daily open	0.5889

Trends
Daily SMA20	0.5954
Daily SMA50	0.5949
Daily SMA100	0.6057
Daily SMA200	0.6162

Levels
Previous Daily High	0.5938
Previous Daily Low	0.5882
Previous Weekly High	0.6056
Previous Weekly Low	0.5882
Previous Monthly High	0.605
Previous Monthly Low	0.5847
Daily Fibonacci 38.2%	0.5903
Daily Fibonacci 61.8%	0.5917
Daily Pivot Point S1	0.5868
Daily Pivot Point S2	0.5847
Daily Pivot Point S3	0.5812
Daily Pivot Point R1	0.5924
Daily Pivot Point R2	0.5959
Daily Pivot Point R3	0.598

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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