NZD/USD Price Analysis: Sellers attack 200-SMA on the way to 0.7200

NZD/USD snaps two-day uptrend, holds lower ground of late.
Immediate trend line breakdown battles the key SMA amid recovering Momentum.
Sellers may wait for clear SMA break, bulls needs sustained run-up beyond fortnight-old resistance for re-entry.

Anil Panchal FXStreet

NZD/USD remains on the back foot around the day’s low of 0.7220 during early Tuesday. In doing so, the Kiwi pair marks the first intraday loss in three days as bears battle with 200-SMA.

Although recovery of the Momentum line and the strong SMA tests NZD/USD sellers, for now, the pair’s U-turn from 0.7244 and a falling trend line from late May signal further downside of the quote.

In doing so, the 0.7200 and 0.7190 levels could act as intermediate rests for the bears ahead of dragging the quote towards the monthly low of 0.7125.

On the flip side, a corrective pullback beyond the support-turned-resistance line from Friday, near 0.7245, will have to cross the two-week-long falling trend line around 0.7255 to convince NZD/USD buyers.

Following that, the monthly high near 0.7300 and late May tops close to 0.7320 will be in the spotlight.

Overall, NZD/USD remains pressured and the latest trend line break offers entry signals to intraday sellers.

NZD/USD four-hour chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price	0.7222
Today Daily Change	-10 pips
Today Daily Change %	-0.14%
Today daily open	0.7232

Trends
Daily SMA20	0.7224
Daily SMA50	0.7173
Daily SMA100	0.7183
Daily SMA200	0.7022

Levels
Previous Daily High	0.7244
Previous Daily Low	0.7191
Previous Weekly High	0.7289
Previous Weekly Low	0.7126
Previous Monthly High	0.7317
Previous Monthly Low	0.7115
Daily Fibonacci 38.2%	0.7224
Daily Fibonacci 61.8%	0.7211
Daily Pivot Point S1	0.7201
Daily Pivot Point S2	0.7169
Daily Pivot Point S3	0.7148
Daily Pivot Point R1	0.7254
Daily Pivot Point R2	0.7275
Daily Pivot Point R3	0.7307

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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