- NZD/USD stays under pressure below the short-term key SMA.
- RBNZ showed readiness to keep the borrowing cost as low for as long as needed.
- 10-day SMA acts as the key short-term support.
Despite staying beyond 10-day SMA, NZD/USD fails to cross 21-day SMA while taking rounds to 0.6035 amid the early Monday’s trading session.
That said, the pair might take clues from the recovery in RSI conditions as well as the broad US dollar weakness to clear a 21-day SMA level of 0.6055.
As a result, 50% Fibonacci retracement of the present year’s fall, near 0.6110 and March 02 low near 0.6195 could gain the buyers’ attention.
On the contrary, a 38.2% Fibonacci retracement level of 0.5960 and a 10-day SMA level of 0.5850 can entertain sellers during the fresh downside.
NZD/USD daily chart
Trend: Pullback expected
Additional important levels
|Today last price||0.6034|
|Today Daily Change||-3 pips|
|Today Daily Change %||-0.05%|
|Today daily open||0.6037|
|Previous Daily High||0.607|
|Previous Daily Low||0.591|
|Previous Weekly High||0.607|
|Previous Weekly Low||0.5589|
|Previous Monthly High||0.6504|
|Previous Monthly Low||0.6192|
|Daily Fibonacci 38.2%||0.6009|
|Daily Fibonacci 61.8%||0.5971|
|Daily Pivot Point S1||0.5941|
|Daily Pivot Point S2||0.5846|
|Daily Pivot Point S3||0.5782|
|Daily Pivot Point R1||0.6101|
|Daily Pivot Point R2||0.6165|
|Daily Pivot Point R3||0.6261|
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