NZD/USD Price Analysis: Sellers look for entry below 0.6080/75 support confluence

NZD/USD struggles for a clear direction below 100-day EMA.
50-day EMA, 61.8% Fibonacci retracement limits immediate downside.
April top adds to the upside barrier.

Anil Panchal FXStreet

NZD/USD again attempts recovery towards 0.6100 while bouncing off 0.6083 during Monday’s Asian session. Even so, the pair stays below 100-day EMA after the recent two-day losing streak.

While the pair’s repeated failures to break 100-day EMA keeps the sellers hopeful, a clear downside below 0.6080/75 support confluence, comprising 50-day EMA and 61.8% Fibonacci retracement of March month fall, becomes the key for fresh entry.

If at all the NZD/USD prices slip below 0.6075, 0.6000 could gain the bears’ attention ahead of the monthly low near 0.5920.

Alternatively, an upside clearance of a 100-day EMA level of 0.6170 could propel the quote towards April month high nearing 0.6175/80.

NZD/USD daily chart

Trend: Sideways

Additional important levels

Overview
Today last price	0.6099
Today Daily Change	2 pips
Today Daily Change %	0.03%
Today daily open	0.6097

Trends
Daily SMA20	0.6066
Daily SMA50	0.5995
Daily SMA100	0.622
Daily SMA200	0.6321

Levels
Previous Daily High	0.6131
Previous Daily Low	0.608
Previous Weekly High	0.6159
Previous Weekly Low	0.5927
Previous Monthly High	0.6176
Previous Monthly Low	0.5843
Daily Fibonacci 38.2%	0.6099
Daily Fibonacci 61.8%	0.6112
Daily Pivot Point S1	0.6074
Daily Pivot Point S2	0.6052
Daily Pivot Point S3	0.6023
Daily Pivot Point R1	0.6125
Daily Pivot Point R2	0.6154
Daily Pivot Point R3	0.6176

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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