Feb 6, 2020
NZD/USD Asia Price Forecast: Kiwi at a stone’s throw from 2020 lows
- NZD/USD is under bearish pressure as sellers are nearing the 2020 lows.
- The level to beat for bears is the 0.6447 support.
NZD/USD daily chart
NZD/USD fell sharply throughout the first month of 2020. It is now trading below the main simple moving average (SMAs) as bears are looking for a break below the 0.6447 support. Potential targets on the way down can be seen near 0.6427 and 0.6400 price 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