NZD/USD technical analysis: Kiwi is under pressure near 0.6500 figure ahead of NZ Retail Sales

The New Zealand Retail Sales for the first quarter (QoQ) will be published at 22:45 GMT this Tuesday.
A worse-than-expected reading can keep the pressure on the NZD/USD currency pair.

Flavio Tosti Independent Analyst

NZD/USD daily chart

NZD/USD is trading in a steep bear trend below the 0.6600 handle and its main simple moving averages (SMAs). The market is reaching levels not seen since November 2018.

NZD/USD 4-hour chart

NZD/USD is trading below its main SMAs suggesting a bearish bias in the medium term.

NZD/USD 30-minute chart

NZD/USD is trading in a bear trend below its main SMAs. A break below 0.6500 figure can open the gates to 0.6480 and 0.6450 level. On the way up, resistance is expected at 0.6520 and 0.6547 level.

Additional key levels

NZD/USD

Overview
Today last price	0.6506
Today Daily Change	-0.0034
Today Daily Change %	-0.52
Today daily open	0.654

Trends
Daily SMA20	0.6602
Daily SMA50	0.6717
Daily SMA100	0.676
Daily SMA200	0.6717

Levels
Previous Daily High	0.6547
Previous Daily Low	0.652
Previous Weekly High	0.6604
Previous Weekly Low	0.6513
Previous Monthly High	0.6838
Previous Monthly Low	0.658
Daily Fibonacci 38.2%	0.6537
Daily Fibonacci 61.8%	0.653
Daily Pivot Point S1	0.6524
Daily Pivot Point S2	0.6509
Daily Pivot Point S3	0.6497
Daily Pivot Point R1	0.6551
Daily Pivot Point R2	0.6563
Daily Pivot Point R3	0.6578

Author

Flavio Tosti

Independent Analyst

EUR/USD recovers above 1.1600 as focus shifts to US data

EUR/USD stages a modest rebound and trades in positive territory above 1.1600 in the European session on Wednesday. Improving risk sentiment makes it difficult for the US Dollar to preserve its strength and helps the pair edge higher as focus shifts to key US data releases.

GBP/USD climbs above 1.3350 on improving risk mood

GBP/USD gains traction and advances toward 1.3400 on Wednesday. Although there are no headlines pointing to a de-escalation in the Middle East conflict, the modest recovery seen in US stock index futures limit the USD's gains and help the pair hold its ground.

Gold rebounds toward $5,200 as USD retreats

Gold maintains its offered tone through European session on Wednesday and climbs to the $5,200 region. The downward correction seen in the US Dollar and the ongoing crsis in the Middle East seem to be allowing XAU/USD to preserve its recovery momentum.

ADP Employment Report set to signal stronger February jobs growth, little effect on Fed outlook

The Automatic Data Processing (ADP) Research Institute will release its monthly report on private-sector job creation for February on Wednesday. The so-called ADP Employment Change report is expected to show that the United States private sector added 50K new positions in the month, following the 22K gained in January.

Asian stocks fall as South Korea’s KOSPI slumps over 10%

Asian equities drop on Middle East tensions; the MSCI Asia Pacific Index falls up to 4%. South Korea’s KOSPI fell 10.71% near 5,170, with the Korean Won weakened past 1,500 per dollar.

Solana Price Forecast: SOL consolidation near resistance as ETF inflows offer mild support

Solana price is facing slight rejection as it approaches the upper boundary of the consolidation range at around $88 on Wednesday. Institutional demand is strengthening as spot Exchange Traded Funds recorded two consecutive inflows so far this week.