NZD/USD Price Analysis: Kiwi defends key support but face resistance

NZD/USD stands around 0.5710 area ahead of the Asian session, extending its mild recovery.
Buyers successfully defended the 20-day SMA, but sellers remain active, capping upside momentum.
Technical outlook shows resistance near 0.5750, while support is firm at 0.5660 and the 20-day SMA.

Patricio Martín FXStreet

The NZD/USD pair edged higher on Tuesday ahead of the Asian session, moving near the 0.5710 zone after rebounding from recent lows. The uptick of 0.26% reflects some buying interest, yet the broader technical setup suggests that bears are still lurking around, limiting further gains.

From a technical perspective, the Relative Strength Index (RSI) is rising sharply within positive territory, indicating strengthening bullish momentum. However, the Moving Average Convergence Divergence (MACD) remains in negative territory, with flat red bars signaling a lack of strong directional bias. This suggests that while buyers managed to defend key support at the 20-day Simple Moving Average (SMA), further upside could face resistance unless momentum builds.

Looking at support and resistance levels, the first resistance appears around the 0.5750 region, followed by stronger resistance at 0.5780. If bulls manage to push the pair above these levels, a retest of the 100-day SMA could be on the table. On the downside, initial support stands at 0.5690, with stronger demand seen around the 20-day SMA, which remains a critical level for maintaining a positive outlook.

NZD/USD daily chart

Author

Patricio Martín

FXStreet

Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.

EUR/USD remains offered below 1.1800, looks at US data

EUR/USD is still trading on the defensive in the latter part of Thursday’s session, while the US Dollar maintains its bid bias as investors now gear up for Friday’s key release of the PCE data, advanced Q4 GDP prints and flash PMIs.

GBP/USD bounces off monthly lows near 1.3430

GBP/USD is sliding in tandem with its risk-sensitive peers, drifting back towards the 1.3430 area, its lowest levels in the month. The move reflects a firmer Greenback, supported by another round of solid US data and a somewhat divided FOMC Minutes.

Gold surrenders some gains, back below $5,000

Gold is giving away part of its earlier gains on Thursday, receding to the sub-$5,000 region per troy ounce. The precious metal is finding support from renewed geopolitical tensions in the Middle East and declining US Treasury yields across the curve in a context of further advance in the Greenback.

XRP edges lower as SG-FORGE integrates EUR stablecoin on XRP Ledger

Ripple’s (XRP) outlook remains weak, as headwinds spark declines toward the $1.40 psychological support at the time of writing on Thursday.

Hawkish Fed minutes and a market finding its footing

It was green across the board for US Stock market indexes at the close on Wednesday, with most S&P 500 names ending higher, adding 38 points (0.6%) to 6,881 overall. At the GICS sector level, energy led gains, followed by technology and consumer discretionary, while utilities and real estate posted the largest losses.

Injective token surges over 13% following the approval of the mainnet upgrade proposal

Injective price rallies over 13% on Thursday after the network confirmed the approval of its IIP-619 proposal. The green light for the mainnet upgrade has boosted traders’ sentiment, as the upgrade aims to scale Injective’s real-time Ethereum Virtual Machine architecture and enhance its capabilities to support next-generation payments.