NZD/USD Price Analysis: Seesaws below 0.7210 resistance confluence

NZD/USD fades Thursday’s recovery moves below 200-HMA, monthly resistance line.
Weekly horizontal support tests sellers amid sturdy RSI.
0.7245-50 area adds to the upside filters before the monthly top.

Anil Panchal FXStreet

NZD/USD edges lower around 0.7190, down 0.15% intraday, amid Friday’s Asian session trading. The kiwi pair recovered from 0.7164 the previous day but couldn’t cross a convergence of 200-HMA and a downward sloping trend line from June 01.

Considering the sturdy RSI, the latest pullback moves seem doubtful to break the 0.7165-60 horizontal support area. Also likely to challenge the NZD/USD sellers is the monthly low of 0.7125.

It’s worth noting that a clear downside break of 0.7125 will make the kiwi pair drop further towards May’s low near 0.7115 and then to the 0.7100 threshold.

On the flip side, a clear break of 0.7210 resistance confluence isn’t a free pass to the NZD/USD buyers as a horizontal area established since May 31, around 0.7245-50 acts as an extra hurdle to the north.

Overall, NZD/USD remains sideways between 0.7160 and 0.7250.

NZD/USD hourly chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	0.7193
Today Daily Change	-0.0011
Today Daily Change %	-0.15%
Today daily open	0.7204

Trends
Daily SMA20	0.7223
Daily SMA50	0.7185
Daily SMA100	0.7183
Daily SMA200	0.7028

Levels
Previous Daily High	0.7213
Previous Daily Low	0.7164
Previous Weekly High	0.7289
Previous Weekly Low	0.7126
Previous Monthly High	0.7317
Previous Monthly Low	0.7115
Daily Fibonacci 38.2%	0.7194
Daily Fibonacci 61.8%	0.7183
Daily Pivot Point S1	0.7174
Daily Pivot Point S2	0.7145
Daily Pivot Point S3	0.7125
Daily Pivot Point R1	0.7223
Daily Pivot Point R2	0.7243
Daily Pivot Point R3	0.7272

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.

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