NZD/USD Price Analysis: Trades near 0.6170, advances towards a barrier at 38.2% Fibonacci

NZD/USD could surpass the resistance level of 38.2% Fibonacci retracement at 0.6179.
A break above the 0.6200 could prompt the pair test 50.0% retracement level of 0.6223.
The pair could meet the support at the nine-day EMA at 0.6124
Technical analysis suggests a momentum shift towards an upward direction.

Akhtar Faruqui FXStreet

NZD/USD continues to move on an upward trajectory for the fifth successive session on Tuesday as the US Dollar (USD) trims daily gains to extend its losses. The NZD/USD pair surges to near 0.6170 during the European trading hours.

The NZD/USD pair could find immediate resistance around the 38.2% Fibonacci retracement at 0.6179 followed by the psychological resistance level of 0.6200. A firm break above this psychological barrier could exert upward support for the pair to explore the region around the 50.0% retracement level of 0.6223.

The technical analysis of the NZD/USD pair suggests a momentum shift towards upward direction. The Moving Average Convergence Divergence (MACD) line is situated below the centerline but shows divergence above the signal line.

Furthermore, the lagging indicator 14-day Relative Strength Index (RSI) lies above the 50 level, suggesting a bullish sentiment for the NZD/USD pair.

On the downside, the NZD/USD pair could find immediate support at the major level of 0.6150. A break below the latter could put the downward pressure on the NZD/USD pair to test the nine-day Exponential Moving Average (EMA) at 0.6124 to approach the psychological level of 0.6100.

NZD/USD: Daily Chart

NZD/USD: other levels to watch

Overview
Today last price	0.6168
Today Daily Change	0.0018
Today Daily Change %	0.29
Today daily open	0.615

Trends
Daily SMA20	0.6107
Daily SMA50	0.6181
Daily SMA100	0.6079
Daily SMA200	0.6078

Levels
Previous Daily High	0.6153
Previous Daily Low	0.6122
Previous Weekly High	0.6153
Previous Weekly Low	0.6049
Previous Monthly High	0.6339
Previous Monthly Low	0.6061
Daily Fibonacci 38.2%	0.6141
Daily Fibonacci 61.8%	0.6134
Daily Pivot Point S1	0.613
Daily Pivot Point S2	0.6111
Daily Pivot Point S3	0.61
Daily Pivot Point R1	0.6161
Daily Pivot Point R2	0.6172
Daily Pivot Point R3	0.6192

Author

Akhtar Faruqui

FXStreet

Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.

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