NZD/USD Technical Analysis: Continuing rough channel lower amidst frequent upswings

The Kiwi is seeing another intraday cyclical rebound from lows near 0.6750 in a repeat of Monday's market action that saw the NZD/USD lurch to 0.6815 before bedding back down as broader market action saw overall flows push out of and then back into the US Dollar.

Joshua Gibson FXStreet

NZD/USD Chart, 5-Minute

The past two weeks shows the Kiwi steadily cycling lower in large swings, marking out a rough channel that threatens to lose momentum from a lateral swing low at the 0.6750 level.

NZD/USD Chart, 30-Minute

The past two months have seen the NZD/USD pair recover from medium-term lows at the 0.6440 level, but the last move towards the upside appears to have run out of momentum as the Kiwi becomes entangled in the 50-period moving average at the 0.6800 handle.

NZD/USD, 4-Hour

NZD/USD

Overview:
    Today Last Price: 0.6778
    Today Daily change: -7.0 pips
    Today Daily change %: -0.103%
    Today Daily Open: 0.6785
Trends:
    Previous Daily SMA20: 0.674
    Previous Daily SMA50: 0.6632
    Previous Daily SMA100: 0.6659
    Previous Daily SMA200: 0.6877
Levels:
    Previous Daily High: 0.6818
    Previous Daily Low: 0.6756
    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%: 0.6779
    Previous Daily Fibonacci 61.8%: 0.6794
    Previous Daily Pivot Point S1: 0.6755
    Previous Daily Pivot Point S2: 0.6724
    Previous Daily Pivot Point S3: 0.6693
    Previous Daily Pivot Point R1: 0.6816
    Previous Daily Pivot Point R2: 0.6848
    Previous Daily Pivot Point R3: 0.6878

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.