NZD/USD reversal from 0.6150 finds support at 0.6100

  • NZD/USD rebound from 0.5920 halts at 0.6150 and the pair pulls back to 0.6100.
  • The kiwi ends a three-day rally as risk appetite falters.
  • The NZD remains steady near the top of a consolidative channel, at 0.6175.


The New Zealand’s dollar is set to halt a three-day rally from 0.5920 area after hitting resistance at 0.6150. The pair, however seems steady above 0.6100, consolidating gains near the top of the last five weeks’ horizontal range, from 0.5915 to 0.6160/75


The kiwi loses ground as risk appetite vanishes

The NZD/USD advanced on a strong footing earlier this week, to appreciate about 3.5% as the market celebrated the first attempts to ease restrictions after the coronavirus shutdown. Beyond that, RBNZ Governor, Andrew Orr, backtracked on the idea of introducing negative rates, a possibility he suggested only a week before, increasing support for the NZD.

The pair, however, has trimmed gains on Thursday, weighed by sourer market sentiment, with the main equity markets in red amid downbeat macroeconomic data and geopolitical tensions between the US and China increasing negative pressure on risk-sensitive currencies.

NZD/USD consolidating near 0.6175 resistance level

The pair is now trading right above 0.6100 (intra-day level) below here, next potential support levels would be at 0.6060 (Intra-day low) and the 50-day SMA at 0.6000.

On the upside, immediate resistance remains at 0.6175 (April 30 high). If it makes it above here, the pair might increase bullish traction to aim towards the 100-day SMA, now around 0.6225, and then to the 200-day SMA, at 0.6320 area.

NZD/USD key levels to watch


Today last price 0.6112
Today Daily Change -0.0033
Today Daily Change % -0.54
Today daily open 0.6145
Daily SMA20 0.6057
Daily SMA50 0.5994
Daily SMA100 0.6231
Daily SMA200 0.6325
Previous Daily High 0.6159
Previous Daily Low 0.6062
Previous Weekly High 0.6157
Previous Weekly Low 0.5921
Previous Monthly High 0.6176
Previous Monthly Low 0.5843
Daily Fibonacci 38.2% 0.6122
Daily Fibonacci 61.8% 0.6099
Daily Pivot Point S1 0.6085
Daily Pivot Point S2 0.6025
Daily Pivot Point S3 0.5988
Daily Pivot Point R1 0.6182
Daily Pivot Point R2 0.6219
Daily Pivot Point R3 0.6279




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

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Latest Forex News

Editors’ Picks

AUD/USD jumps back above 0.6950 as S&P 500 futures test 3,200

Following a bearish opening gap, AUD/USD has recovered ground and trades above 0.6950, tracking the bounce in the S&P 500 futures. The bulls shrug off US-China tensions and the worsening coronavirus situation in the US and Australia. 


USD/JPY bears holding their positions below 107 level

Yen remains a safe haven currency of choice as trade wars and the coronavirus play havoc risk apatite. Investors pin hopes on Gilead Sciences reporting that its antiviral drug Remdesivir recorded positive results in clinical trials.


Gold: Pierces $1,800 inside short-term bullish flag

Gold prices extend recoveries from $1,798.14, defies two-day losing streak. A seven-day-old bullish technical pattern, sustained trading beyond immediate support favor the buyers. 200-HMA offers additional downside support, bulls will cheer break of $1,811.60.

Gold News

WTI: Depressed above $40 amid output cut talks

WTI defies the late-Friday recovery moves while slipping from $40.80. Saudi Arabia pushes for two million barrels a day output cut, IEA improves on oil demand forecast. Risk-tone remains mildly positive amid virus woes, US-China tension.

Oil News

S&P 500: Bank's earnings in focus, COVID-19 induced insolvency fears simmer away

The S&P 500 will be a key theme on Q2 earnings this week, traders watching the banks for guidance. Wall Street stocks remain in bullish territory, but the S&P 500 is on thin-ice while below the June highs. 

Read more