NZD/USD Is in a Downtrend, May Likely Reach Level 0.6600

NZD/USD Is in a Downtrend, May Likely Reach Level 0.6600

Key Resistance Levels: 0.6600, 0.6800, 0.7000
Key Support Levels: 0.6200, 0.6000, 0.5800

NZD/USD Price Long-term Trend: Bearish
NZD/USD pair is in a downtrend after rejection from level 0.6800. The pair is falling and will likely reach level 0.6600. A downward move to level 0.6400 is likely if the support at level 0.6600 cracks.

NZD/USD – Daily CHart

Daily Chart Indicators Reading:
The Kiwi has risen to level 49 of the Relative Strength index period 14. It implies that the pair is in the downtrend zone and below the centerline 50. The 50-day SMA and 21-day SMA are sloping upward. It indicates the uptrend

NZD/USD Medium-term Trend: Bearish
On the 4-hour chart, the NZD/USD pair was in a downward move. On September 3 downtrend, a green candle body tested 61.8 % Fibonacci retracement level. The pair will fall and reach the 1.618 Fibonacci extension level. It means the Kiwi will fall and Reach level 0.6600.

NZD/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping downward. It indicates that the recent downtrend. The pair is below the 20 % range of the daily stochastic. It indicates that the market is in a bearish momentum.

General Outlook for NZD/USD
The NZD/USD pair is in a downward move. The Kiwi has been on a downward move since September 2. In the current downward move, the price will reach a low of level 0.6600.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
$100 Min Deposit
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
Share with other traders!