NZD/USD Price Analysis: Upside momentum fizzles beyond 0.6400

NZD/USD keeps the pullback moves from 21-day EMA.
Tops marked on June 16 and 23 offer intermediate halt ahead of the monthly peak.
200-day EMA becomes the strong support ahead of key Fibonacci retracements.
Comments from New Zealand Treasury favored the latest upside.

Anil Panchal FXStreet

NZD/USD rises to 0.6432, intraday high of 0.6438, amid initial trading hours on Friday. The kiwi pair recently benefited from upbeat comments of New Zealand’s Treasury while extending recovery moves from 21-day EMA. Though multiple upside resistances question the bulls.

Among them, June 16 high around 0.6510 becomes the first one challenge further rise, a break of which could escalate the run-up towards Tuesday’s top of 0.6534.

If at all there prevails further rise past-0.6534, the monthly high of 0.6585 and 0.6600 round-figure could flash on their radars.

On the downside, a daily closing below 21-day EMA level of 0.6400 can fetch the quote towards 0.6323 key support comprising 200-day. However, any further weakness might not refrain from challenging May 27 top near 0.6230.

NZD/USD daily chart

Trend: Further recovery expected

Additional important levels

Overview
Today last price	0.6425
Today Daily Change	-5 pips
Today Daily Change %	-0.08%
Today daily open	0.643

Trends
Daily SMA20	0.6438
Daily SMA50	0.6216
Daily SMA100	0.6177
Daily SMA200	0.6324

Levels
Previous Daily High	0.6443
Previous Daily Low	0.6399
Previous Weekly High	0.6507
Previous Weekly Low	0.6381
Previous Monthly High	0.6241
Previous Monthly Low	0.5921
Daily Fibonacci 38.2%	0.6426
Daily Fibonacci 61.8%	0.6416
Daily Pivot Point S1	0.6405
Daily Pivot Point S2	0.638
Daily Pivot Point S3	0.6361
Daily Pivot Point R1	0.6449
Daily Pivot Point R2	0.6468
Daily Pivot Point R3	0.6493

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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