NZD/USD Price Analysis: Extends gains towards psychological resistance at 0.6200


  • NZD/USD seems to test the immediate barrier at the 0.6200 level.
  • Technical analysis indicates a momentum shift in an upward direction.
  • The pair could find a support region around the major level of 0.6150 and the nine-day EMA at 0.6137.

NZD/USD continues to extend its winning streak that began on February 14 on the subdued US Dollar, which could be chalked up to the lower US Treasury yields. The NZD/USD pair rises to near 0.6190 during the Asian trading hours on Wednesday.

The NZD/USD pair may encounter immediate resistance near the psychological threshold of 0.6200. A decisive breakthrough above this psychological barrier could provide upward momentum, potentially leading the pair to explore levels around the 50.0% retracement level of 0.6229, followed by psychological resistance at 0.6250.

Technical analysis indicates a shift in momentum towards the upside. The Moving Average Convergence Divergence (MACD) line, positioned below the centerline, displays divergence above the signal line. Traders are likely to await confirmation from the MACD for a clear directional trend. Moreover, the 14-day Relative Strength Index (RSI), a lagging indicator, is above the 50 level, indicating a bullish sentiment for the NZD/USD pair.

On the downside, immediate support for the NZD/USD pair is anticipated at the key level of 0.6150. A breach below this level could exert downward pressure on the pair, potentially testing the nine-day Exponential Moving Average (EMA) at 0.6137 before approaching the psychological support level of 0.6100.

NZD/USD: Daily Chart

NZD/USD: other technical levels

Overview
Today last price 0.6188
Today Daily Change 0.0019
Today Daily Change % 0.31
Today daily open 0.6169
 
Trends
Daily SMA20 0.6111
Daily SMA50 0.6182
Daily SMA100 0.6082
Daily SMA200 0.6077
 
Levels
Previous Daily High 0.6192
Previous Daily Low 0.6129
Previous Weekly High 0.6153
Previous Weekly Low 0.6049
Previous Monthly High 0.6339
Previous Monthly Low 0.6061
Daily Fibonacci 38.2% 0.6168
Daily Fibonacci 61.8% 0.6153
Daily Pivot Point S1 0.6135
Daily Pivot Point S2 0.61
Daily Pivot Point S3 0.6072
Daily Pivot Point R1 0.6198
Daily Pivot Point R2 0.6226
Daily Pivot Point R3 0.6261

 

 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

AUD/USD drops further to 0.6250 amid mounting trade war fears

AUD/USD drops further to 0.6250 amid mounting trade war fears

AUD/USD extends losses to test 0.6250 amid mounting trade war fears, fueled by US President Trump's tariff plans. Furthermore, RBA rate cut bets, China's economic woes and a modest US Dollar strength amid risk aversion drag the Aussie away from over a one-month peak. 

AUD/USD News
USD/JPY regains 155.50 as Trump's tariff plans boost US Dollar

USD/JPY regains 155.50 as Trump's tariff plans boost US Dollar

USD/JPY builds on the overnight bounce from a six-week low and regains 155.50 in Tuesday's Asian trading.Softer Japanese service-sector inflation data provided extra legs to the pair's recovery. Moreover, US President Donald Trump's tariff plans-led USD strength underpins USD/JPY. 

USD/JPY News
Gold down but not yet out as Trump and Fed grab attention

Gold down but not yet out as Trump and Fed grab attention

Gold price licks its wounds following the sharp pullback from three-month highs just shy of the all-time peak of $2,790. Gold trades take account of the latest tariff talks by US President Donald Trump and his administration as attention turns toward mid-tier US economic data and Federal Reserve policy announcements.

Gold News
Ripple's regulatory approvals from New York and Texas fail to boost XRP price

Ripple's regulatory approvals from New York and Texas fail to boost XRP price

XRP briefly slipped below $3.00 on Monday following Ripple's announcement that it has obtained Money Transmitter Licenses in New York and Texas, permitting customers in the region to enjoy its services.

Read more
What is DeepSeek, and why is it important?

What is DeepSeek, and why is it important?

Several Chinese companies pivoted into making their various AI model offerings open source last week, sending shockwaves through the tech sector. Chinese tech startups look set to disrupt the AI space, which has, until recently, been almost singularly dominated by high-priced US tech giants and soaring valuations.

Read more
Trusted Broker Reviews for Smarter Trading

Trusted Broker Reviews for Smarter Trading

VERIFIED Discover in-depth reviews of reliable brokers. Compare features like spreads, leverage, and platforms. Find the perfect fit for your trading style, from CFDs to Forex pairs like EUR/USD and Gold.

Read More

Forex MAJORS

Cryptocurrencies

Signatures