NZD/USD Price Analysis: Teases inverse head-and-shoulder breakout above 0.7200

NZD/USD bulls catch a breather around the intraday top.
China data, risk-on mood favor buyers to confirm the bullish chart pattern.
Pre-NFP trading lulls battles sustained trading above 200-SMA to confuse traders.

Anil Panchal FXStreet

Having recently jumped to 0.7244, NZD/USD eases to 0.7238 while flirting with the neckline of a short-term head-and-shoulders bullish pattern during early Friday.

China’s upbeat Caixin Services PMI recently added extra strength into the pair’s trading beyond 200-SMA, which in turn joins upbeat Momentum on the 30-minutes chart to keep buyers hopeful.

Read: China's Caixin Services PMI rises to 56.3 in April, AUD/USD nears 0.7800

However, a clear upside break of 0.7245 becomes necessary for the NZD/USD bulls before aiming at the theoretical target of 0.7375. During the run-up, April’s top near 0.7290 and March’s top near 0.7310 may offer intermediate halts.

Meanwhile, pullback moves could revisit the 0.7200 round-figure but the 200-SMA level of 0.7186 may challenge any further weakness.

Should NZD/USD prices slip below 0.7200, the monthly low around 0.7115 will be in the spotlight.

NZD/USD 30-minute chart

Trend: Bullish

Additional important levels

Overview
Today last price	0.724
Today Daily Change	7 pips
Today Daily Change %	0.10%
Today daily open	0.7233

Trends
Daily SMA20	0.7171
Daily SMA50	0.7139
Daily SMA100	0.7164
Daily SMA200	0.6953

Levels
Previous Daily High	0.724
Previous Daily Low	0.7184
Previous Weekly High	0.7287
Previous Weekly Low	0.715
Previous Monthly High	0.7287
Previous Monthly Low	0.6945
Daily Fibonacci 38.2%	0.7219
Daily Fibonacci 61.8%	0.7205
Daily Pivot Point S1	0.7198
Daily Pivot Point S2	0.7163
Daily Pivot Point S3	0.7142
Daily Pivot Point R1	0.7254
Daily Pivot Point R2	0.7275
Daily Pivot Point R3	0.731

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.

GBP/USD declines as market caution lifts US Dollar

GBP/USD extends its gains for the second successive day, trading around 1.3200 during the Asian hours on Wednesday. The currency pair depreciated as the US Dollar gained momentum, driven by a combination of robust domestic economic data and a complex, mixed geopolitical landscape.

EUR/USD weakens below 1.1400 as Fed hike bets lift US Dollar

The EUR/USD pair trades on a negative note near 1.1380 during the early Asian trading hours on Wednesday. The major pair extends the decline as traders continue to assess the developments surrounding the US-Iran peace deal.

$4,050: Gold dives to fresh two-week low as Fed rate hike bets boost US Dollar

Gold drifts lower for the second straight day – also marking the fifth day of a negative move in the previous six – and drops to a nearly two-week low during the Asian session on Wednesday. Despite easing inflationary concerns in the face of the recent fall in Crude Oil prices, traders have been pricing in a greater chance of a rate hike by the US Federal Reserve.

Global strategy 3Q 2026

With the signing of a framework agreement and subsequent negotiations between the U.S. and Iran in June, the outlook for the third quarter is favorable. Oil prices have already fallen sharply, and futures are pricing in a further decline over the course of the year. This will ease the burden on consumers and reduce uncertainty among businesses, with positive effects on the economy.

"Rearranging the deckchairs on the Titanic": UK's fiscal crisis outlasts another Prime Minister

Keir Starmer's resignation as the UK Prime Minister comes ten years after the Brexit referendum vote, a coincidence that financial markets have been quick to note. The British Pound trades around 1.3220 against the US Dollar on Thursday.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.