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

fxsoriginal

NZD/USD

Overview
Today last price 0.6364
Today Daily Change -0.0020
Today Daily Change % -0.31
Today daily open 0.6384
 
Trends
Daily SMA20 0.6323
Daily SMA50 0.6344
Daily SMA100 0.6477
Daily SMA200 0.6605
 
Levels
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.

Feed news

Latest Forex News

Editors’ Picks

GBP/USD consolidates losses below 1.3150 amid a tighter election poll

GBP/USD is trading below 1.3150, consolidating its losses after YouGov's MRP poll showed a tighter Conservative majority ahead of the UK elections on Thursday. Trade headlines and the Fed decision are also awaited.

GBP/USD News

EUR/USD remains pressured below 1.11 amid trade uncertainty, ahead of the Fed

EUR/USD is trading below 1.11, consolidating its gains. Uncertainty about the planned US tariffs on China looms and tension is mounting ahead of US inflation and the all-important Fed decision.

EUR/USD News

Forex Today: Boris gets a blow from big poll, tariff threat looms, focus on the Fed

President Donald Trump has yet to decide on the December 15 tariffs, according to the Wall Street Journal. On the other hand, the paper says that negotiators are laying the groundwork for a deal.

Read more

Gold stalls two-day winning streak on the Fed day, trade jitters continue

Gold prices register a mild loss of -0.05% while hovering below $ 1465 on Wednesday. The yellow metal seems to have lacked buying interest ahead of the key monetary policy meeting by the US Federal Reserve (Fed).

Gold News

USD/JPY: 200-hour EMA questions immediate rising trend-channel

USD/JPY recently took a U-turn from 200-hour Exponential Moving Average (EMA). Even so, it stays well within the two-day-old rising trend-channel formation. The pair trades around 108.75 at the press time on Wednesday.

USD/JPY News

Forex MAJORS

Cryptocurrencies

Signatures