NZD/USD Price Analysis: Tumbles to three-day losses, below the 50-DMA

NZD/USD hits a new three-day nadir at 0.5906, shedding 0.39% amid a broader downtrend and declining US Treasury yields.
The pair faces immediate support at the psychological 0.5900 level, with further downside risks towards the September low and critical trendline supports.
A recovery above the 50-day moving average could open the path for the Kiwi to challenge resistances at 0.5900 and potentially the 0.6000 handle.

Christian Borjon Valencia FXStreet

NZD/USD dives to a three-day low of 0.5906 below the 50-day moving average (DMA) at 0.5913, despite the Greenback (USD) trading unchanged as shown by the US Dollar Index (DXY), while US Treasury bond yields drop for the second consecutive day. The pair exchanges hands at 0.5910, down 0.39%.

The downtrend portrayed in the NZD/USD daily chart suggests the pair would continue to print losses unless the fundamentals change. Next, support is at 0.5900 in the figure, followed by the September 5 low at 0.5859, followed by an upslope support trendline at 0.5815/25, before slumping to the 0.5800 mark. A breach of the latter would expose the year-to-date (YTD) low of 0.5773.

On the other hand, if NZD/USD buyers reclaim the 50-DMA, they could remain hopeful of testing higher prices. Next resistance is seen at 0.5900, before rallying to the 0.6000 mark.

NZD/USD Price Analysis – Daily Chart

NZD/USD Technical Levels

NZD/USD

Overview
Today last price	0.5911
Today Daily Change	-0.0024
Today Daily Change %	-0.40
Today daily open	0.5935

Trends
Daily SMA20	0.5881
Daily SMA50	0.5915
Daily SMA100	0.6015
Daily SMA200	0.6114

Levels
Previous Daily High	0.5976
Previous Daily Low	0.5911
Previous Weekly High	0.6005
Previous Weekly Low	0.5788
Previous Monthly High	0.6056
Previous Monthly Low	0.5772
Daily Fibonacci 38.2%	0.5936
Daily Fibonacci 61.8%	0.5951
Daily Pivot Point S1	0.5905
Daily Pivot Point S2	0.5876
Daily Pivot Point S3	0.584
Daily Pivot Point R1	0.597
Daily Pivot Point R2	0.6006
Daily Pivot Point R3	0.6035

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

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