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NZD/USD Price Analysis: Aussie under bearish pressure near 2020 lows

  • NZD/USD is under bearish pressure near the 2020 lows.
  • The level to beat for bears is the 0.6594 support on a daily closing basis. 
 
 

NZD/USD daily chart

 
NZD/USD is easing down from the December highs while nearing the 50-day simple moving average (SMA). The market is equally consolidating in a bull flag near the 0.6594 support. However, if the bears launch an attack the bull flag could fail and lead to a move down towards the 0.6566/52 price zone. Further down lie the 0.6525 level. Resistance is seen near 0.6614 and 0.6642 levels, according to the Technical Confluences Indicator.  
 

Additional key levels 

 

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