#NZDUSD @ 0.58095 pulls back from an 11-month low at 0.5773.
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- NZD/USD pulls back from an 11-month low at 0.5773.
The pair currently trades last at 0.58095.
The previous day high was 0.5872 while the previous day low was 0.58. The daily 38.2% Fib levels comes at 0.5828, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.5844, expected to provide resistance.
NZD/USD dropped to an 11-month low at 0.5773 on Thursday. However, the pair has retraced the daily losses during the European session, struggling to halt a two-day losing streak.
The Moving Average Convergence Divergence (MACD) line persists below both the centerline and the signal line, setting a bearish tone for the NZD/USD pair, as echoed by market sentiment. Investors will likely watch the Kiwi’s Consumer Confidence on Friday, a key indicator for gauging sentiment and economic outlook.
The pair trades around the 0.5800 psychological level followed by the nine-day Exponential Moving Average (EMA) at 0.5849, which emerges as the key resistance lined up with the 0.5850 major level.
A firm break above the level could contribute support for the NZD/USD pair to explore the next psychological region around 0.5900 level following the 23.6% Fibonacci retracement at 0.5920.
On the downside, the region around the intraday low could act again as the immediate support followed by November’s low at 0.5740.
Furthermore, the NZD/USD duo reveals a subdued momentum, with the 14-day Relative Strength Index (RSI) showcasing a clear inclination towards weakness, dipping below the 50 level.
Technical Levels: Supports and Resistances
NZDUSD currently trading at 0.5804 at the time of writing. Pair opened at 0.5802 and is trading with a change of 0.03 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.5804 |
| 1 | Today Daily Change | 0.0002 |
| 2 | Today Daily Change % | 0.0300 |
| 3 | Today daily open | 0.5802 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.5921, 50 SMA 0.5924, 100 SMA @ 0.6041 and 200 SMA @ 0.6141.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.5921 |
| 1 | Daily SMA50 | 0.5924 |
| 2 | Daily SMA100 | 0.6041 |
| 3 | Daily SMA200 | 0.6141 |
The previous day high was 0.5872 while the previous day low was 0.58. The daily 38.2% Fib levels comes at 0.5828, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.5844, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 0.5777, 0.5753, 0.5705
- Pivot resistance is noted at 0.5849, 0.5897, 0.5921
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.5872 |
| Previous Daily Low | 0.5800 |
| Previous Weekly High | 0.5931 |
| Previous Weekly Low | 0.5815 |
| Previous Monthly High | 0.6050 |
| Previous Monthly Low | 0.5847 |
| Daily Fibonacci 38.2% | 0.5828 |
| Daily Fibonacci 61.8% | 0.5844 |
| Daily Pivot Point S1 | 0.5777 |
| Daily Pivot Point S2 | 0.5753 |
| Daily Pivot Point S3 | 0.5705 |
| Daily Pivot Point R1 | 0.5849 |
| Daily Pivot Point R2 | 0.5897 |
| Daily Pivot Point R3 | 0.5921 |
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