NZD/USD Price Analysis: Monthly trendline, 38.2% Fibonacci limit immediate declines

  • NZD/USD stays under pressure for the third consecutive day, nears short-term key support.
  • The pair has been trading below 21-day SMA, 23.6% Fibonacci retracement for the last two weeks.
  • The pair’s further downside can benefit from bearish MACD.

NZD/USD remains on the back foot while trading around 0.6607 during the pre-European session on Tuesday. The pair nears an upward sloping trend line since December 18 as well as 38.2% Fibonacci retracement level of the pair’s November-December upside.

Should bearish MACD drag NZD/USD prices below 0.6590/88 support confluence, 50% Fibonacci retracement near 0.6535 could gain the market’s attention.

During the pair’s further downside past-0.6535, 0.6500 and November 04 top near 0.6465 can please the sellers.

On the contrary, 21-day SMA and 23.6% Fibonacci retracement restrict short-term upside around 0.6650/55.

Buyers will wait for a daily closing beyond 0.6655 to aim for 0.6700 and 2019 close near 0.6755.

NZD/USD daily chart

Trend: Pullback expected

Additional important levels

Today last price 0.6607
Today Daily Change -7 pips
Today Daily Change % -0.11%
Today daily open 0.6614
Daily SMA20 0.6657
Daily SMA50 0.6559
Daily SMA100 0.6452
Daily SMA200 0.6514
Previous Daily High 0.6625
Previous Daily Low 0.6591
Previous Weekly High 0.6666
Previous Weekly Low 0.6584
Previous Monthly High 0.6756
Previous Monthly Low 0.6424
Daily Fibonacci 38.2% 0.6604
Daily Fibonacci 61.8% 0.6612
Daily Pivot Point S1 0.6595
Daily Pivot Point S2 0.6576
Daily Pivot Point S3 0.6561
Daily Pivot Point R1 0.6629
Daily Pivot Point R2 0.6644
Daily Pivot Point R3 0.6663



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

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Editors’ Picks

GBP/USD attempts recovery amid as Johnson's condition is in focus

GBP/USD is trading above 1.23 as the focus remains on PM Johnson's condition. The 55-year old is in intensive care, receiving oxygen and Foreign Secretary Raab is in charge.


EUR/USD rises toward 1.09 amid a better market mood

EUR/USD is trading closer to 1.09, up amid falling coronavirus cases in the old continent and as German industrial output beat expectations with 0.3% for February. New US fiscal stimulus is also eyed.


Crypto starship starts the engines, pointing beyond limits

The bullish scenarios are fulfilled and bring the Top 3 to the launch pad. Ether's dominance shoots up and improves by more than 10% in a single day. The movement shows strong potential not seen since the 2017 bump.

Read more

Gold corrects from multi-week tops, slides further below $1650 level

Gold finally broke down of its Asian session consolidation phase and dropped to fresh session lows, around the $1645 region in the last hour.

Gold News

WTI stays relatively calm near $27 as markets wait for fresh clues on output cuts

Crude oil prices started the week on the back foot with the barrel of West Texas Intermediate (WTI) erasing 8.75% on a daily basis to close at $26.28.

Oil News