NZD/USD technical analysis: Struggles near weekly lows, around 200-hour SMA

  • Extends this week’s pullback from the 0.6430-35 supply zone.
  • Bears are likely to wait for a sustained break below mid-0.6300s.

The NZD/USD pair remained under some selling pressure for the second consecutive session on Friday and dropped to fresh weekly lows, albeit showed some resilience below 200-hour SMA.
This is closely followed by support marking 38.2% Fibonacci level of the 0.6204-0.6436 move up, around mid-0.6300s, which if broken might be seen as a key trigger for bearish traders.
Meanwhile, technical indicators on hourly charts maintained their bearish bias and have been losing traction on the daily chart, supporting prospects for a further near-term downfall.
Weakness below the mentioned support is likely to get extended towards 50% Fibo. level, around the 0.6320 region, before the pair eventually drops to test sub-0.6300 levels (61.8% Fibo.).
On the flip side, immediate resistance is now pegged near the 23.6% Fibo. level, around the 0.6385 region, above which bulls are likely to challenge the 0.6430-35 supply zone (the recent swing high).

NZD/USD 1-hourly chart



Today last price 0.6364
Today Daily Change -0.0020
Today Daily Change % -0.31
Today daily open 0.6384
Daily SMA20 0.6323
Daily SMA50 0.6344
Daily SMA100 0.6477
Daily SMA200 0.6605
Previous Daily High 0.6426
Previous Daily Low 0.6374
Previous Weekly High 0.6391
Previous Weekly Low 0.624
Previous Monthly High 0.6452
Previous Monthly Low 0.6249
Daily Fibonacci 38.2% 0.6394
Daily Fibonacci 61.8% 0.6406
Daily Pivot Point S1 0.6364
Daily Pivot Point S2 0.6343
Daily Pivot Point S3 0.6312
Daily Pivot Point R1 0.6415
Daily Pivot Point R2 0.6446
Daily Pivot Point R3 0.6466



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

EUR/USD bounces after upbeat COVID-19 cure news

EUR/USD is trading above 1.13, rebounding from the lows. Gilead reported that its drug Remdesevir substantially reduces mortality among COVID-19 patients. The news boosted stocks and weighed on the dollar. US coronavirus statistics are due out.


GBP/USD recaptures 1.26 as the market mood improves

GBP/USD is trading above 1.26 as the market mood improves and the safe-haven dollar retreats. Investors are shrugging off Brexit concerns and focusing on hopes to cure coronavirus. US COVID-19 statistics are due out.


XAU/USD consolidates daily gains above $1,800

After advancing to its highest level since September of 2011 at $1,818 on Wednesday, the XAU/USD pair staged a correction and briefly dropped below $1,800 on Thursday.

Gold News

Cryptocurrencies: War for dominance hit the bedrock of the market

Bitcoin tried to regain market share and activated sales in the Altcoin segment. BTC/USD, ETH/USD and XRP/USD are looking for supports and a rebound to push them to new elative highs. The current compression on the XRP/USD chart could trigger an exploding movement.

Read more

WTI once again breaks $40 per barrel after trading lower in early EU trade

There has been quite the bounce in WTI since the EU session after some strong selling pressure during Thursday and overnight. Once again on Friday's session, the price has taken the USD 40 per barrel handle. 

Oil News