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NZD/USD Price Analysis: Kiwi melts down to two-month lows near 0.6400 figure

  • NZD/USD is under heavy bearish pressure as sellers are printing fresh 2020 lows. 
  • The level to beat for sellers is the 0.6399 support.
 

NZD/USD daily chart

 
NZD/USD printed a fresh 2020 low as bears are challenging the 0.6399 support. As the market is under heavy selling pressure a break below the above-mentioned support can lead to further losses towards the 0.6365 and 0.6352 price levels on the way down, according to the Technical Confluences Indicator. Looking up, resistances are seen near the 0.6412, 0.6435 and 0.6465 price levels.  
  
 
Resistance: 0.6412, 0.6435, 0.6465
Support: 0.6399, 0.6365, 0.6352
 

Additional key levels

 

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