NZD/USD Price Analysis: Weekly resistance line probes 200-HMA breakout above 0.7200

  • NZD/USD fades the previous day’s recovery moves after probing the weekly top.
  • RSI, MACD look to ease upside bias, sellers can eye 0.7200 below the key HMA.
  • Upbeat fundamentals from New Zealand, broad US dollar weakness favor the bulls.

Having recently probed the weekly high near 0.7240, NZD/USD recedes to 0.7224 during Wednesday’s Asian trading. In doing so, the kiwi pair steps back from a falling trend line from December 06 while also keeping the upside break of 200-HMA, flashed the previous day.

New Zealand’s upbeat fundamentals, coupled with the US dollar index (DXY) weakness, join the sustained break of 200-HMA to keep NZD/USD buyers hopeful.

Read: New Zealand's fiscal response to coronavirus has been strongest among advanced nations

As a result, a short-term falling trend line from January 06, at 0.7233 now, is likely to be breached soon, which in turn poses threats to Friday’s top near 0.7280 and the 0.7300 round-figure.

During the quote’s sustained trading above the 0.7300 threshold, the multi-month high flashed early in January around 0.7320 and the March 2018 peak surrounding 0.7400 will be on the NZD/USD bull’s radar.

Meanwhile, a downside break below the 200-HMA level of 0.7218 will eye for the 0.7200 psychological support before challenging the monthly bottom surrounding 0.7145.

However, NZD/USD bears’ dominance past-0.7145 will eye for the previous month’s low near the 0.7000 level.

NZD/USD hourly chart

Trend: Bullish

Additional important levels

Today last price 0.7223
Today Daily Change -3 pips
Today Daily Change % -0.04%
Today daily open 0.7226
Daily SMA20 0.714
Daily SMA50 0.703
Daily SMA100 0.6841
Daily SMA200 0.66
Previous Daily High 0.723
Previous Daily Low 0.7157
Previous Weekly High 0.7316
Previous Weekly Low 0.7153
Previous Monthly High 0.7241
Previous Monthly Low 0.7002
Daily Fibonacci 38.2% 0.7202
Daily Fibonacci 61.8% 0.7185
Daily Pivot Point S1 0.7179
Daily Pivot Point S2 0.7132
Daily Pivot Point S3 0.7106
Daily Pivot Point R1 0.7252
Daily Pivot Point R2 0.7277
Daily Pivot Point R3 0.7324



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

AUD/USD keeping its head above 21DMA at 0.7673 for now

AUD/USD saw downside during Monday’s Asia Pacific and early European session, dropping momentarily as low as 0.7660. The pair broke below an uptrend linking the 28 December 2020 high with the 4, 11 and 15 January lows.


EUR/USD is nearing the 1.2000 psychological threshold

EUR/USD corrective decline continues, with the pair approaching a critical psychological support level. Investors await Biden’s inauguration and ECB’s monetary policy decision.


XAU/USD fades recovery moves below $1,850, awaits fresh clues

Gold eases from the top of an immediate $10 trading range while declining to $1,837 at the start of Tuesday’s Asian session. The yellow metal took a U-turn from the lowest since December 01 the previous day as the US dollar stepped back after refreshing the one-month high.

Gold news

Stellar awaits a massive breakout but remains inside a no-trade zone

XLM has continued to trade sideways since we last reported about it. The digital asset remains locked inside a tightening range which will eventually burst. 

Read more

US Dollar Index: Immediately to the upside comes 91.00

DXY extends the march north and already trades at shouting distance from the 91.00 barrier, or new 2021 highs.

US Dollar Index News