NZD/USD Technical Analysis: Bounce off bullish 20-day MA, but the falling channel still intact

Omkar Godbole FXStreet Contributor

The ascending 20-day moving average (MA) put a floor under the kiwi dollar yesterday, the outlook, however, would turn bullish only if the pair manages to clear the falling channel hurdle, currently at 0.6815.

4-hour chart

As seen above, the NZD/USD is trapped in a descending channel for a 12th straight day. A bull breakout, if confirmed, would signal a continuation of the rally from the Nov. 1 low of 0.6514 and could yield a break above the recent high of 0.6883.

Daily chart

Over on the daily chart, the pair has bounced off nicely from the ascending (bullish) 20-day MA. The prospects of falling channel breakout, however, would weaken sharply if the spot finds acceptance below the 20-day MA, currently at 0.6767.

Trend: Bullish after channel breakout

NZD/USD

Overview:
    Today Last Price: 0.6795
    Today Daily change: 3.0 pips
    Today Daily change %: 0.0442%
    Today Daily Open: 0.6792
Trends:
    Previous Daily SMA20: 0.6752
    Previous Daily SMA50: 0.6636
    Previous Daily SMA100: 0.6658
    Previous Daily SMA200: 0.6874
Levels:
    Previous Daily High: 0.6811
    Previous Daily Low: 0.6753
    Previous Weekly High: 0.6876
    Previous Weekly Low: 0.6767
    Previous Monthly High: 0.663
    Previous Monthly Low: 0.6424
    Previous Daily Fibonacci 38.2%: 0.6789
    Previous Daily Fibonacci 61.8%: 0.6775
    Previous Daily Pivot Point S1: 0.676
    Previous Daily Pivot Point S2: 0.6727
    Previous Daily Pivot Point S3: 0.6702
    Previous Daily Pivot Point R1: 0.6818
    Previous Daily Pivot Point R2: 0.6843
    Previous Daily Pivot Point R3: 0.6876

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

EUR/USD keeps the bid bias just over 1.1800

EUR/USD has started the week on a positive foot, hovering around the 1.1800 region in the latter part of Monday’s session. The pair’s recovery comes on the back of a decent decline in the US Dollar, as investors keep their attention on the evolving US–EU trade relationship after President Trump’s announcement of sweeping global tariff hikes.

GBP/USD looks stuck around 1.3500 amid firm gains

GBP/USD is pushing further north on Monday, revisiting the 1.3500 hurdle and beyond. Cable’s uptick is largely being fuelled by the broader softness in the Greenback, amid lingering uncertainty around tariffs.

Gold pops above $5,200, four-week highs

Gold is holding onto its bullish tone on Monday, reaching new multi-week highs just past the $5,200 mark per troy ounce. Fresh trade-war concerns, coupled with rising geopolitical tensions in the Middle East, are keeping demand for the yellow metal well on the rise.

Crypto Today: Bitcoin, Ethereum, XRP intensify sell-off as tariff uncertainty weighs

Bitcoin, Ethereum and Ripple are trading amid increasing selling pressure at the time of writing on Monday, as investors react to fresh trade uncertainty over US President Donald Trump’s push for more tariffs.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

XRP recovers slightly as bearish sentiment dominates crypto market

Ripple is rising above $1.40 at the time of writing on Monday amid fresh tariff-triggered headwinds in the broader cryptocurrency market. The sell-off to $1.33, the token’s intraday low, can be attributed to macroeconomic uncertainty, geopolitical tensions and risk-averse sentiment among other factors.