NZD/USD Price Analysis: Maintains its position below 0.6000 ahead of US jobs data

NZD/USD consolidates below the psychological level before US Jobless Claims.
Nine-day EMA at 0.5952 could act as the key support aligned to the 0.5950 major level.
38.2% Fibo at 0.6025 emerges as the barrier followed by the major level at 0.6050.

Akhtar Faruqui FXStreet

NZD/USD retreats from the weekly high, hovering below the 0.6000 psychological level during the European hours on Thursday. The NZD/USD pair could find support at the nine-day Exponential Moving Average (EMA) at 0.5952 lined up with a major level at 0.5950.

A decisive break below the level could influence the bears of the NZD/USD pair to navigate the region around 0.5900 psychological level following the two-week low at 0.5859.

However, the technical indicators for the NZD/USD pair do indeed paint a bullish picture. The 14-day Relative Strength Index (RSI) being above the 50 level signals upward support, indicating a strong momentum in favor of the pair.

Moreover, the Moving Average Convergence Divergence (MACD) line, positioned above the centerline and showing divergence above the signal line, further suggests a bullish momentum in the NZD/USD pair.

On the upside, the 38.2% Fibonacci retracement at 0.6025 appears to be the immediate resistance. A firm breakthrough above the latter could support the NZD/USD pair to explore the region around the major level at 0.6050 followed by the 50% retracement at 0.6099 level.

NZD/USD: Daily Chart

NZD/USD: More technical levels

Overview
Today last price	0.6001
Today Daily Change	-0.0021
Today Daily Change %	-0.35
Today daily open	0.6022

Trends
Daily SMA20	0.5886
Daily SMA50	0.5916
Daily SMA100	0.6002
Daily SMA200	0.6101

Levels
Previous Daily High	0.6055
Previous Daily Low	0.5996
Previous Weekly High	0.6002
Previous Weekly Low	0.5877
Previous Monthly High	0.6056
Previous Monthly Low	0.5772
Daily Fibonacci 38.2%	0.6033
Daily Fibonacci 61.8%	0.6019
Daily Pivot Point S1	0.5994
Daily Pivot Point S2	0.5966
Daily Pivot Point S3	0.5935
Daily Pivot Point R1	0.6053
Daily Pivot Point R2	0.6083
Daily Pivot Point R3	0.6112

Author

Akhtar Faruqui

FXStreet

Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.

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