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NZD/USD Price Analysis: Kiwi extends losses in fresh 2020 lows

  • NZD/USD is under heavy selling pressure as the spot is printing fresh 2020 lows.
  • The level to beat for bears is the 0.6389 support.


NZD/USD daily chart

NZD/USD is printing fresh 2020 lows as sellers are challenging the 0.6389 support. As the spot is under heavy selling pressure a break below the above-mentioned level could lead to extra losses towards the 0.6367 and 0.6354 price levels on the way down, according to the Technical Confluences Indicator. Resistances are seen near the 0.6400, 0.6425 and 0.6440 price levels.  
Resistance: 0.6400, 0.6425, 0.6440
Support: 0.6387, 0.6367, 0.6354

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