NZD/USD Technical Analysis: Immediate support-line at 0.6845 guards the downside

The New Zealand Dollar (NZD) trades around 0.6845 against the USD during early Tuesday.
The pair now rests on an immediate support-line connecting lows marked on February 13 and 15.
Should the pair provides a decisive break below the 0.6845 support, the 0.6800 round-figure may offer intermediate halt during its drop to 50% Fibonacci retracement of December to January downturn, at 0.6775.
Assuming the seller’s dominance past-0.6775, 0.6720 and 0.6700 can become their favorites.
On the flipside, 0.6870 may act as adjacent cap ahead of diverting market attention to 0.6900 horizontal-line.
Additionally, pair’s successful rise over 0.6900 enables it to confront a downward sloping resistance-line stretched since late-December, at 0.6935 now.

Anil Panchal FXStreet

NZD/USD 4-Hour chart

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.

EUR/USD looks offered below 1.1900

EUR/USD keeps its bearish tone unchanged ahead of the opening bell in Asia, returning to the sub-1.1900 region following a firmer tone in the US Dollar. Indeed, the pair reverses two consecutive daily gains amid steady caution ahead of Wednesday’s key US Nonfarm Payrolls release.

GBP/USD slips back to daily lows near 1.3640

GBP/USD drops to daily lows near 1.3640 as sellers push harder and the Greenback extends its rebound in the latter part of Tuesday’s session. Looking ahead, the combination of key US releases, including NFP and CPI, alongside important UK data, should keep the pound firmly in focus over the coming days.

Gold declines to near $5,050, focus shifts to US jobs data

Gold price falls to near $5,045 during the early Asian session on Wednesday. Traders assess whether prices have found a floor following a historic sell-off. The delayed US employment report for January, which was pushed back due to the recently ended four-day government shutdown, will take center stage later on Wednesday.

Ethereum: Whales buy the dip amid rising short bets

Following one of Ethereum's largest weekly drawdowns, whales are slowly returning to action alongside a drop in retail selling pressure. After slightly selling into the decline at the start of the month, whales or wallets with a balance of 10K-100K ETH began buying the dip last Wednesday as prices crashed further.

Dollar drops and stocks rally: The week of reckoning for US economic data

Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.

XRP holds $1.40 amid ETF inflows and stable derivatives market

Ripple trades under pressure, with immediate support at $1.40 holding at the time of writing on Tuesday. A recovery attempt from last week’s sell-off to $1.12 stalled at $1.54 on Friday, leading to limited price action between the current support and the resistance.