NZD/USD Price Analysis: Portrays another attempt to cross weekly hurdle near 0.6300

NZD/USD remains mildly bid as bulls approach short-term resistance line amid sluggish session.
Sustained trading beyond 50-HMA, firmer RSI adds strength to bullish bias.
One-week-old horizontal support area adds to the downside filters.

Anil Panchal FXStreet

NZD/USD picks up bids to 0.6290 as buyers struggle to keep reins during the dicey session heading into the European open on Wednesday.

In doing so, the Kiwi pair justifies the sustained trading beyond the 50-HMA, as well as the recently firmer RSI (14), amid an inactive trading day ahead of the US inflation data.

However, a downward sloping resistance line from the last Thursday, near the 0.6300 threshold by the press time, appears to challenge immediate NZD/USD upside moves.

Following that, a run-up towards the monthly peak of 0.6352 can’t be ruled out. However, the quote’s upside past-0.6352 appears difficult amid the likely overbought RSI on the short time frame at that place.

Should the NZD/USD remains firmer above 0.6352, the mid-June swing high near 0.6400 could return to the charts.

On the contrary, the 50-HMA level of 0.6280 restricts the immediate downside of the NZD/USD pair.

Following that, the 61.8% Fibonacci retracement of July 27 to August 01 up-moves, near 0.6250, will precede the one-week-old horizontal support zone around 0.6210 to challenge further declines of the Kiwi pair.

If at all the NZD/USD remains bearish past 0.6210, the 0.6200 may act as the last defense of the bulls before directing prices towards the yearly low marked in July near 0.6060.

NZD/USD: Hourly chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	0.6292
Today Daily Change	0.0004
Today Daily Change %	0.06%
Today daily open	0.6288

Trends
Daily SMA20	0.624
Daily SMA50	0.6277
Daily SMA100	0.6458
Daily SMA200	0.6633

Levels
Previous Daily High	0.6304
Previous Daily Low	0.6269
Previous Weekly High	0.6353
Previous Weekly Low	0.6212
Previous Monthly High	0.633
Previous Monthly Low	0.6061
Daily Fibonacci 38.2%	0.6282
Daily Fibonacci 61.8%	0.6291
Daily Pivot Point S1	0.627
Daily Pivot Point S2	0.6252
Daily Pivot Point S3	0.6235
Daily Pivot Point R1	0.6305
Daily Pivot Point R2	0.6322
Daily Pivot Point R3	0.634

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.