NZD/USD Price Analysis: Plummets from a four-month high, drops below 0.6200

NZD/USD hit a three-month high, past the 0.6200 figure, but high US bond yields are undermining the pair.
Further downside is seen if the pair slumps below 0.6100, with the 200-DMA in sight.
Buyers keeping the NZD/USD exchange rate above 0.6200, to pave the way for 0.6300.

Christian Borjon Valencia FXStreet

NZD/USD retreats late in the Monday North American session after rallying to a new four-month high of 0.6226, but a repricing for a less dovish US Federal Reserve witnessed a jump in US bond yields. Consequently, the pair tumbled more than 0.80% and trades at 0.6154.

The NZD/USD uptrend remains intact, though it is subject to a pullback. If the pair slides past the 0.6150 figure, the next support would be the November 30 swing low at 0.6120. Up next the 200-day moving average (DMA) at 0.6089. A breach of the latter and the pair could shift neutral if it slumps below the October 11 high turned support at 0.6055.

On the other hand, if NZD/USD buyers reclaim 0.6200, further upside is seen above 0.6226, followed by a test of the July 27 high at 0.6273. If those two supply zones are erased, a jump to 0.6300 is on the cards.

NZD/USD Price Analysis – Daily Chart

NZD/USD Technical Levels

NZD/USD

Overview
Today last price	0.6155
Today Daily Change	-0.0048
Today Daily Change %	-0.77
Today daily open	0.6203

Trends
Daily SMA20	0.6023
Daily SMA50	0.5955
Daily SMA100	0.5986
Daily SMA200	0.609

Levels
Previous Daily High	0.6207
Previous Daily Low	0.6145
Previous Weekly High	0.6208
Previous Weekly Low	0.606
Previous Monthly High	0.6208
Previous Monthly Low	0.5788
Daily Fibonacci 38.2%	0.6183
Daily Fibonacci 61.8%	0.6169
Daily Pivot Point S1	0.6163
Daily Pivot Point S2	0.6123
Daily Pivot Point S3	0.6102
Daily Pivot Point R1	0.6225
Daily Pivot Point R2	0.6247
Daily Pivot Point R3	0.6287

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

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