#NZDUSD @ 0.63953 The Kiwi Dollar has rebounded despite pre-Fed policy anxiety. (Pivot Orderbook analysis)

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• The Kiwi Dollar has rebounded despite pre-Fed policy anxiety.
• A bull cross, represented by the 20-and 200-period EMAs at 0.6214, indicates more upside ahead.
• The RSI (14) is oscillating in the bullish range, which indicates that the upside momentum is active.

The pair currently trades last at 0.63953.

The previous day high was 0.6428 while the previous day low was 0.6354. The daily 38.2% Fib levels comes at 0.64, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.6382, expected to provide support.

The NZD/USD pair is an inch far from the round-level resistance of 0.6400, at the time of writing, after resurfacing from around 0.6380 in the early Asian session. The Kiwi asset has attempted a firmer recovery despite the risk-off market mood ahead of Federal Reserve (Fed) monetary policy meeting on Wednesday.

Meanwhile, the US Dollar Index (DXY) is displaying signs of exhaustion after failing to surpass the immediate hurdle of 105.20. The 10-year US Treasury yields have turned negative in intraday trade and have slipped below 3.56%.

NZD/USD is initially aiming to conquer the current resistance plotted from August 12 high at 0.6470. After surpassing the current resistance at 0.6470, the Kiwi asset will face fresh barricades at June 3 high of around 0.6576. A bull cross, represented by the 20-and 200-period Exponential Moving Averages (EMAs) at 0.6214, indicates more upside ahead.

The Relative Strength Index (RSI) (14) is oscillating in the bullish range of 60.00-80.00, which indicates a continuation of the upside ahead.

For further upside, the Kiwi asset needs to surpass August 12 high at 0.6470, which will drive the pair toward the psychological resistance at 0.6500, followed by June 3 high around 0.6576.

Alternatively, a breakdown below December 5 low around 0.6300 will drag the kiwi pair towards December 1 low at 0.6233. A slippage below the latter will drag the major toward the round-level support at 0.6200.

Technical Levels: Supports and Resistances

NZDUSD currently trading at 0.6398 at the time of writing. Pair opened at 0.6416 and is trading with a change of -0.28 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 0.6247, 50 SMA 0.5954, 100 SMA @ 0.6034 and 200 SMA @ 0.628.

The previous day high was 0.6428 while the previous day low was 0.6354. The daily 38.2% Fib levels comes at 0.64, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.6382, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.6371, 0.6325, 0.6296
• Pivot resistance is noted at 0.6445, 0.6474, 0.6519

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