OctaFX | OctaFX Forex Broker
Open trading account
Back

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

 

Forex Today: All eyes on RBA

Here is what you need to know on Tuesday, February 4th: An upbeat US ISM Manufacturing PMI saved the day for the greenback, although its gains were mi
Read more Previous

NZD/USD: Bulls fearful of an uber dovish RBA

NZD/USD is currently trading at 0.6461 between a low of 0.6452 and a high of 0.6477 as we head over to the Asian session where traders are getting set
Read more Next
Start livechat