Feb 3, 2020
NZD/USD Price Analysis: Kiwi pressuring the 2020 lows, trading sub-0.6500 figure
- NZD/USD remains under heavy selling pressure near the 2020 lows.
- The level to beat for sellers is the 0.6447 support.
NZD/USD daily chart
NZD/USD has kept falling throughout January. It is now trading below the 50/200 simple moving averages (SMAs) while challenging the 100 SMA. The sellers are likely looking for an extension of the down move and a break of the 0.6447 support with a potential drop towards the 0.6427 and 0.6400 levels, according to the Technical Confluences Indicator. On the flip side, resistances are seen near the 0.6490, 0.6514 and 0.6535 price levels.
Resistance: 0.6490, 0.6514, 0.6535
Support: 0.6447, 0.6427, 0.6400
Additional key levels