NZD/USD Price Analysis: Looks to extend loss beyond 0.7250

NZD/USD is consolidating minor losses in the Asian session.
More downside envisioned below 0.7250.
Overbought momentum oscillator warns caution against aggressive bids.

Rekha Chauhan Independent Analyst

The NZD/USD pair remains muted in the early Asian session. The pair is downbeat for the past three sessions in a row, having made a high of 0.7300 on Monday.

At the time of writing, NZD/USD is trading at 0.7262, down 0.14% on the day.

NZD/USD daily chart

On the daily chart, the pair has been consolidating losses below 0.7300. The pair formed a spinning top candlestick formation on Monday followed by the next day’s red candle. This technical pattern suggests that prices are looking for a downside move, a break below the previous day’s low at 0.7251 would confirm the case.

The first area of support emerges at the 20-hour Simple Moving Average (SMA) placed at 0.7214, followed by the 0.7170 horizontal support area.

The receding Moving Average Convergence Divergence (MACD) indicator expected to move prices in the vicinity of 0.7100 horizontally placed support area.

Alternatively, if the price makes a sustained move beyond 0.7270, then the first stoppage could be Monday’s high at 0.7300 followed by the 0.7340 horizontal resistance zone. Next, the bulls would scream for February 26 high at 0.7384.

NZD/USD Additional Levels

NZD/USD

Overview
Today last price	0.7264
Today Daily Change	-0.0017
Today Daily Change %	-0.23
Today daily open	0.7281

Trends
Daily SMA20	0.7195
Daily SMA50	0.714
Daily SMA100	0.7167
Daily SMA200	0.6959

Levels
Previous Daily High	0.7306
Previous Daily Low	0.726
Previous Weekly High	0.7301
Previous Weekly Low	0.7115
Previous Monthly High	0.7287
Previous Monthly Low	0.6945
Daily Fibonacci 38.2%	0.7278
Daily Fibonacci 61.8%	0.7288
Daily Pivot Point S1	0.7259
Daily Pivot Point S2	0.7236
Daily Pivot Point S3	0.7213
Daily Pivot Point R1	0.7305
Daily Pivot Point R2	0.7328
Daily Pivot Point R3	0.7351

Author

Rekha Chauhan

Independent Analyst

Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.

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